The American Gaming Industry Association, the Tribal Gaming Association, and several labor unions are urging Congress to include provisions in the ongoing cryptocurrency legislation to explicitly prohibit prediction market platforms like Kalshi from offering sports betting services. The signatories argue that prediction markets have fueled a massive expansion of betting activity in the U.S. over the past 18 months, but lack voter approval or specific legislative authorization, and claim that sports betting is not under the jurisdiction of the Commodity Futures Trading Commission (CFTC). The American Gaming Association (AGA) previously estimated that states would lose approximately $1 billion in betting-related revenue due to prediction markets since 2025, but the platforms disputed this estimate. (Semafor)
U.S. betting industry groups are urging Congress to restrict platforms like Kalshi from offering sports betting.
