Senate Democrats push tighter prediction market rules to protect tribal gaming
A group of Senate Democrats is urging Congress to tighten federal oversight of prediction market platforms, warning that pending digital asset legislation could weaken tribal gaming protections and erode states’ authority over gambling as lawmakers across Washington pursue a wider crackdown on the fast-growing industry. Sen. Martin Heinrich and 11 other Democratic senators have asked two key Senate committees to revise pending digital asset legislation before it advances, arguing that the bills could unintentionally expand prediction markets at the expense of long-standing tribal and state gaming systems. Senate Democrats call for stronger guardrails on prediction markets In a letter to the leaders of the Senate Banking, Housing, and Urban Affairs Committee and the Senate Agriculture, Nutrition, and Forestry Committee, the lawmakers said the Digital Asset Market Clarity Act (CLARITY Act) and the Digital Commodity Intermediaries Act (DCIA) would reduce oversight of decentralized finance betting platforms while allowing prediction markets to operate outside existing gambling frameworks. They wrote, “We write with urgency regarding the continued lack of proper regulation over prediction markets and the resulting circumvention …








