Senators Call for Regulation of Prediction Markets to Protect Tribal Sovereignty
U.S. Senator Maria Cantwell, along with other senators, has urged Senate committees to regulate prediction markets that misuse federal commodity and derivatives rules to offer nationwide sports and event wagering. This practice threatens tribal gaming sovereignty and circumvents state regulatory powers. The senators argue that the rapid expansion of these markets undermines tribal revenue, which is crucial for funding government services like healthcare and education. They have called for amendments to the Digital Asset Market Clarity Act and the Digital Commodity Intermediaries Act to include protections for tribal-state gaming compacts and to prohibit CFTC-registered entities from listing prediction contracts resembling sports bets. 
