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Sports Prediction Markets Under Fire | Texas News
Capitol Hill is in a regulatory tug-of-war over booming sports prediction markets, as lawmakers grapple with whether these platforms—like Kalshi and Polymarket—should be treated as financial instruments or disguised sports wagers. With millions flocking to these sites, states are stepping in to limit offerings while the CFTC pushes back, arguing it’s the right regulator. The gaming industry accuses the CFTC of being under-resourced and letting companies self-police, while some lawmakers call for more funding. Former CFTC officials defend the agency’s adaptability. As the lines between finance…
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