The National Council of Legislators from Gaming States endorsed keeping sports wagering and broader gambling policy under state control as prediction markets spread across the United States. The resolution was adopted at the council’s July meeting in San Diego.
During its meeting, the Executive Committee approved a resolution opposing unregulated prediction markets and urging federal and state action to protect consumers and regulated markets. The resolution emphasizes the need to preserve state authority over gambling activities.
Prediction markets allow participants to bet on elections, economic indicators, sporting events, and other real-world outcomes outside traditional gambling regulation. Their rapid expansion has prompted debate about appropriate oversight.
The council has assembled legal scholars, gaming regulators, industry executives, financial specialists, attorneys, and policymakers to examine whether sports event prediction contracts should be governed by federal commodities law or state gaming law.
A coalition of state attorneys general has asked the Commodity Futures Trading Commission to revise its proposed rule on prediction markets, claiming federal oversight would shift sports betting regulation from state to a federal body without congressional authorization.
The attorneys general point out that states have built licensing systems, consumer safeguards, responsible gaming programs, advertising standards, and enforcement mechanisms, and argue that sports wagers do not serve hedging or price‑discovery purposes.
Recent congressional hearings have amplified focus on prediction markets, reinforcing the council’s stance that state and tribal governments should maintain regulatory control over gaming within their borders.
The organization urges Congress and federal agencies to weigh the potential consequences for existing state and tribal gaming policies before taking further action.
Looking ahead, the council will continue to provide a national forum where policymakers can hear competing viewpoints, analyze legal and regulatory developments, and shape public policy through evidence, expertise, and respectful debate.
