Prediction Markets and Sports Betting | Salt Lake City News

Salt Lake City News Today | 2 Min News | The Daily News Now! · Jul 21, 2026 · 1m

Capitol Hill is in a regulatory tug-of-war over booming prediction markets, where users bet on sports outcomes — raising the big question: are these platforms just digital sportsbooks in disguise? The CFTC, currently in charge, is defending its authority, but critics argue it’s ill-equipped to police this fast-growing sector, which is fueling concerns about regulatory arbitrage and missing consumer protections. As platforms like Kalshi and Polymarket explode in popularity, lawmakers must decide whether these markets are the next frontier in finance — or a loophole for gambling that demands…