Gaming groups urge Congress to ban prediction markets sports betting in CLARITY Act
CoinTelegraph·
60-second summary
Gaming groups are urging the US Senate to pass the CLARITY Act, which would ban prediction markets sports betting, citing concerns that the Commodity Futures Trading Commission lacks authority to oversee these markets. The bill aims to clarify regulatory jurisdiction, with 10 gaming industry groups backing the measure, seeking to prevent potential overreach.
Gambling industry groups want the US Senate to step in to clarify that the Commodity Futures Trading Commission does not have the authority to oversee prediction markets.