The North American Association of State and Provincial Lotteries (NASPL) has published a statement calling for urgent clarification by regulators on sports contracts’ inclusion in prediction markets, calling them “an attempt to create a new type of gambling and conceal its true identity. ”
The NASPL furthered that “failing to establish appropriate regulatory parameters will have a negative impact on the integrity of the very games (sports as well as lottery) that prediction markets target, compromise consumer protection and responsible gaming efforts nationwide, undermine public benefit funding efforts, and compound the challenges law enforcement faces in combatting tax evasion, money laundering and racketeering.
