A newly formed industry group advocating for prediction market platforms has revealed the addition of two high-profile former US lawmakers to its leadership team.
The move underscores the growing political push behind this emerging sector, as battles continue in the US court systems between state regulators and prediction market operators regarding who has the right to regulate sports event contracts.
According to a report by Axios, the Coalition for Prediction Markets announced on Wednesday that Sean Patrick Maloney, a Democrat who has served 10 years in the US House of Representatives, will assume a new role with the group as President and Chief Executive. Meanwhile, former Republican representative Patrick McHenry will join the organization as a Senior Advisor.
