Congressman Horsford and Amodei Introduce Bipartisan 'Prediction Markets Are Gambling Act'
Congressman Steven Horsford (NV-04) and Congressman Mark Amodei (NV-02) have introduced the 'Prediction Markets Are Gambling Act,' a bipartisan legislative effort aimed at preventing federally regulated trading platforms from offering sports betting and casino-style gambling disguised as financial products. This legislation seeks to address the growing concern that some companies are using federal commodities regulation to bypass state and tribal gaming oversight. Congressman Horsford emphasized the need for clear rules to protect consumers, respect state and tribal authority, and safeguard the livelihoods of Nevada's gaming and hospitality workers. The issue has gained national attention, with discussions around whether prediction markets constitute gambling and their potential consequences for workers, consumers, and the economy. The bill aims to ensure meaningful safeguards against underage gambling, accountability for operators, and support for individuals experiencing gambling harm, asserting that the...
