Senators clash with industry officials over sports betting expansion and prediction markets during hearing
A Senate panel spent hours Wednesday (May 20) hearing whether America’s fast-growing sports betting industry is outpacing the rules meant to control it. The Commerce, Science, and Transportation Committee’s hearing, titled “No Sure Bets: Protecting Sports Integrity in America,” brought together regulators, gaming executives, integrity specialists, and lawmakers who disagreed sharply over how prediction markets should be treated under federal law. The session took place inside the Russell Senate Office Building and was led by Sen. Marsha Blackburn through the Subcommittee on Consumer Protection, Technology, and Data Privacy. Much of the discussion centered on prediction-market platforms that now offer contracts tied to sporting events nationwide under commodities regulations instead of traditional state gaming laws. Several senators questioned whether those companies are effectively acting like sportsbooks while avoiding many of the restrictions imposed on licensed gambling operators. AGA warns prediction markets are ‘national sportsbooks’ during Senate hearing Bill Miller, president and chief executive officer of the American Gaming Association, delivered some of the hearing’s strongest criticism toward prediction-market operators. He argued that companies offering sports-event contracts …







