At least 10 groups representing tribal gaming interests have sent letters to the Commodity Futures Trading Commission (CFTC) calling the emergence of sports event contracts an illegal circumvention of state gambling laws.
Among the groups are the Arizona Indian Gaming Association, California Nations Indian Gaming Association, Indian Gaming Association, Tribal Alliance of Sovereign Indian Nations and Yuhaaviatam of San Manuel Nation. They all contacted the CFTC between Feb. 10 and Feb. 22 to express concern about sports futures trading, according to agency records.
The memos went out as part of the CFTC’s 45-day public comment period on the prediction markets, which will be followed by an in-person roundtable in Washington, D.C., at CFTC headquarters late next month to determine agency policy.
