Who Should Regulate Prediction Markets? Senators Push Clarity Act Changes

Battle royale brewing: Mike Flood tackles future of prediction markets

U.S. Rep. Mike Flood said he is still in the early phases of understanding what Congress' role should be in regulating prediction markets.

Political Battle Looms: “If Clarity Dies, Democrats Killed It”

Of course, BlackRock is scrambling to pressure holdout Senators to vote “Yes”. Larry Fink, the CEO of BlackRock, is a member of the Trilateral Commission. This is a make-or-break bill for arch-Technocrats in Washington, DC, if they can score this win to consolidate America’s new privatized financial system into their hands. My guess is that...

Who should regulate prediction markets? Senators push Clarity Act changes

Senators have pushed to preserve state and tribal control over sports betting by seeking changes to the Clarity Act as Congress weighs federal crypto market legislation. During a Senate Indian Affairs Committee roundtable on Tuesday, Indian Gaming Association Vice Chairman…

Tribal leaders urge Senate to act on prediction markets

Several senior tribal gaming leaders and Ohio’s Solicitor General urged Congress to take swift and firm action to halt the spread of sports prediction markets at a Senate Committee on Indian Affairs roundtable on Tuesday. Senators from states with close ties to tribal gaming, including several in which online sports betting is not legal, heard opinions and testimonies from several people during the Aug. 4 session: Tehassi Hill, Vice Chairman of…

Is it a trade or a bet? Tribes warn Congress that prediction markets are rewriting the rules of gambling

A prediction market can sound like a financial tool built for people trying to forecast the future. Users buy contracts tied to an outcome: Will the Federal Reserve cut interest rates? How hot will it get in New York? Will a particular team win a championship? But put a point spread, a money line or a player proposition on the screen, tribal gaming leaders told senators this week, and the distinction between a “prediction” and a bet becomes much…

Tribal gaming regulators push prediction markets provision in federal bill

Tribal gaming regulators and a group of senators are making a renewed push to add a prediction markets provision to the Clarity Act, a federal bill working its way through Congress. The effort aims to keep sports betting and prediction markets under state jurisdiction rather than ceding oversight to a federal regulator. The push comes as prediction markets have grown into a significant cultural and financial phenomenon. Platforms that let users …