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Prediction Markets and the Law | Charleston News
Congress is grappling with a booming new frontier: prediction markets that let users bet on sports outcomes, sparking a fierce debate over regulation. Are these platforms just sneaky sports betting loopholes evading state oversight, or are they legitimate financial tools? Lawmakers clash with the CFTC, which claims it’s already adapted to new markets, while states push back, citing consumer protection gaps and lost tax revenue. The industry argues these platforms are reshaping gambling, but critics warn without proper safeguards, they’re risking public harm. With no clear winner yet, Congress…
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