Rep. Dina Titus, a Nevada Democrat, introduced the Fair Markets and Sports Integrity Act two weeks ago with a pointed announcement, and this week, the language of the bill was revealed.
The bill is short. It is not, however, subtle.
H.R. 7477, introduced Feb. 10 and referred to the House Committee on Agriculture, would amend the Commodity Exchange Act (CEA) to prohibit any registered entity from listing, facilitating, or clearing contracts that are based on, reference, or derive their value from sporting events or casino-style games.
In plain English: No sports events contracts and nothing resembling casino games would be allowed on prediction markets.
