U.S. Game Industry Demands 'Prediction Market Ban' Clause in CLARITY Act

U.S. game industry groups and tribal organizations are urging the Senate to include a clause in the pending CLARITY Act that would prohibit sports and casino-style prediction markets. The groups argue the Commodity Futures Trading Commission (CFTC) lacks authority to regulate sports betting, emphasizing the need for clear legal boundaries. Industry advocates, including the Indian Gaming Association (IGA) and American Gaming Association (AGA), are pushing for explicit restrictions to prevent prediction market platforms from facilitating sports event contracts, citing concerns over expanded gambling and regulatory conflicts.