The Executive Director of the Pennsylvania Gaming Control Board has written a letter to the Commonwealth’s two U.S. Senators and 17 members of Congress regarding the concerns of widespread sports wagering through “event contracts” on privately established futures markets.
Specifically, the letter asks Pennsylvania’s representatives to urge the Commodity Futures Trading Commission to consider the inherent problems caused by a dual-track system of state-regulated legal sports wagering and purported futures trading on sporting events under the facade of federal regulation. The letter follows an earlier (April 2025) submission of written testimony to the CFTC on behalf of the PGCB.
In his letter, Kevin F. O’Toole states that the growing presence of sports prediction markets is a significant threat to Pennsylvania’s long-established regulatory framework for gaming and undermines the successful regulation of gambling that has been historically, and constitutionally, left to individual states.
