After a discussion about how prediction markets fit into the legal sports betting landscape at the American Gaming Association’s (AGA) Public Policy Committee (PPC) meeting in Washington, D.C., Monday, DraftKings and FanDuel suddenly resigned from the trade organization. Both companies previously announced their intent to begin offering sports event contracts via prediction markets, which are regulated by the federal Commodity Futures Trading Commission rather than by state regulators.
Sometime after the general PPC meeting Monday, and before an evening cocktail hour, the AGA’s executive committee met, and the end result was a clear split between the AGA, DraftKings, and FanDuel about prediction markets.
