Prediction Markets and Sports Betting | Annapolis News

Annapolis News Today | 2 Min News | The Daily News Now! · Jul 21, 2026 · 2m

Capitol Hill lawmakers are locked in a heated debate over how to regulate the explosive growth of prediction markets—platforms letting users bet on sports outcomes. With companies like Kalshi and Polymarket adding millions of users, the question boils down to whether these markets are just digital sportsbooks in disguise. The gaming industry demands stricter oversight, warning of consumer risks and lost tax revenue, while the CFTC argues it’s already equipped to handle these new financial tools. As states scramble to set their own rules, Congress must decide: is this innovation or just…