Pennsylvania Gaming Control Board Executive Director Kevin F. O’Toole has called on lawmakers to press the Commodity Futures Trading Commission over the growth of sports prediction markets.
It follows testimony submitted to the commodities regulator by the Pennsylvania Gaming Control Board in April 2025.
In a letter to the state’s two US senators and 17 House members on Friday, O’Toole said the rise of privately run futures-style markets threatens Pennsylvania’s “long-established” regulatory framework as well as consumer protections.
He said, “Sports prediction markets operate under the assertion that they are financial derivatives,” adding, “These markets effectively create a backdoor to legalized sports betting, operating parallel to, but outside of, the state-regulated system, and without strict oversight.”
