The Pennsylvania Gaming Control Board has formally raised concerns with the Commodity Futures Trading Commission about the growing use of prediction market platforms.
In comments submitted ahead of potential federal rulemaking, the regulator argued that certain event-based contracts offered on prediction platforms closely resemble traditional wagering and may breach Pennsylvania law by offering unregulated forms of gambling.
In a letter, Pennsylvania Gaming Control Board Executive Director Kevin F. O’Toole wrote about the dangers of allowing wagering on certain real-world events.
