Gambling Groups Urge Congress to Exclude Sports Betting From CFTC Oversight in Crypto Bills

Gambling industry groups and labor unions are urging U.S. lawmakers to add restrictive provisions to pending cryptocurrency legislation, citing 18 months of growth in prediction-market gambling. According to NS3.AI, the groups want Congress to reaffirm that sports betting falls outside the jurisdiction of the U.S. Commodity Futures Trading Commission. They also argued that sports betting should not be offered through prediction market platforms. The request focuses on clarifying regulatory boundaries as lawmakers consider crypto-related bills.