States Get Prediction Markets Jurisdiction Under Cruz’s Bill

US senator Ted Cruz to file bill seeking state control over sports prediction markets

US Sen. Ted Cruz is preparing legislation that would give state and tribal governments authority over sports-related contracts offered by prediction markets. Cruz intends to file the bill after the November 3 midterm elections, as per Bloomberg Law. The measure would bar prediction market operators from offering contracts linked to gambling activities, including sports betting, without approval from...

Cruz bill would shift prediction market regulation of sports to states

KEY TAKEAWAYS U.S. Sen. Ted Cruz (R-TX) plans to introduce legislation that would put state and tribal governments in control of sports contracts on prediction markets. Cruz intends to file the bill after the Nov. 3 midterm elections, Bloomberg Law reported. The legislation would prevent prediction markets from offering event contracts tied to gambling activities, […]

States Get Prediction Markets Jurisdiction Under Cruz’s Bill

DALLAS – A planned bill from U.S. Senator Ted Cruz would require prediction markets to be authorized by state or tribal government. Cruz’s legislation would prevent federally-regulated prediction markets like Kalshi from avoiding state gambling laws to offer their sports-event contracts. Cruz, a U.S. Senator ... The post States Get Prediction Markets Jurisdiction Under Cruz’s Bill first appeared on LegalSportsBetting.com.