Prediction markets, which let people bet on anything from sporting events to whether Iran’s supreme leader will be removed from power by a certain date, are disrupting the traditional gambling industry so much that some casino and sports betting executives say the U.S. Supreme Court should step in and lay out what these new companies can and cannot do.
Prediction markets are arguably the biggest challenge right now to the casino and sports betting industries, and the American Gaming Association, the gambling industry’s national trade group, recently said it is in “a defining fight” with the new industry.
At the NEXT.io sports betting and internet gambling forum Tuesday, prediction markets featured prominently in numerous presentations and panel discussions.
