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Who Regulates Sports Prediction Markets | US News
Congress is scrambling to regulate exploding prediction markets like Kalshi and Polymarket, where sports betting surged during the World Cup—drawing billions in wagers and sparking legal battles over jurisdiction, oversight, and fair play. With three million new users and a $1.2 billion World Cup market, these platforms are challenging traditional sportsbook rules, taxing structures, and tribal gaming laws. The CFTC is stepping in with emergency powers as courts clash over authority, while Native American gaming groups push for stronger federal protections. The debate centers on whether…
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