Attorneys general urge CFTC to cede sports prediction market oversight to states
Updated
Updated · Bay Net · May 6
Attorneys general urge CFTC to cede sports prediction market oversight to states
6 articles · Updated · Bay Net · May 6
Maryland Attorney General Anthony Brown said a bipartisan coalition of 41 attorneys general filed the comment, naming platforms including Polymarket and Kalshi.
They argued the contracts mirror sportsbook wagers on winners, spreads and player statistics, while bypassing state consumer protections, tax rules and public-health safeguards.
The filing answers a CFTC rulemaking request; Maryland says a 2025 multistate group on prediction markets has grown to about 16 states and 60-plus government lawyers.
With courts divided and states suing, will the Supreme Court decide if prediction markets are finance or simply gambling?
Since 18-year-olds can legally use these markets for sports betting, are we creating a new public health crisis for young adults?
As a US soldier faces insider trading charges, are prediction markets a new frontier for espionage and national security risks?