Indian gaming leaders oppose Clarity Act over prediction market concerns
Tribal gaming organizations say the bill should explicitly exclude sports betting and other gambling regulated by tribes and states
Indian gaming leaders are urging the U.S. Senate to reject H.R. 3633, known as the Clarity Act, unless it is amended to prevent prediction market platforms from offering sports betting and other forms of gambling regulated by tribes and states, according to reporting from ICT. The Indian Gaming Association, the California Nations Indian Gaming Association and other tribal organizations argue the bill would expand the authority of the Commodity Futures Trading Commission without closing what they describe as a regulatory loophole used by prediction market companies.
Indian Gaming Association Chairman David Bean testified before the House Committee on Agriculture that prediction markets should be regulated as gaming while respecting tribal sovereignty, according to the ICT reporting. Tribal leaders instead support H.R. 7840, the Event Contracts Enforcement Act. They said the Clarity Act should explicitly prohibit prediction market platforms from offering sports betting, casino-style games and other forms of gaming regulated by tribal and state governments.
- 1.Amelia Schafer. Indian Gaming leaders urge Senators to vote No on Clarity Act. ICT, .
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