Massachusetts Gaming Commission Chair Jordan Maynard has voiced concerns that prediction markets are targeting people younger than 21.
Maynard said that prediction market operators are “illegally offering sports wagers” in an interview on television station WCVB’s “On the Record” show.
His comments follow legal action taken by Massachusetts Attorney General Andrea Campbell against prediction market operator Kalshi, claiming the company is offering illegal betting products under the appearance of “event contracts. ”
Prediction market operators argue that they are federally regulated by the Commodities and Futures Trading Commission, but that argument has been challenged in multiple state-level legal cases.
Maynard said he was concerned about underage users and the absence of responsible gaming safeguards, stating that, unlike licensed operators in Massachusetts, prediction market platforms do not apply the same identity verification measures or consumer protections.
