Dina Titus Bill Takes Aim at Sports Contracts on Prediction Markets
Summary
Nevada Representative Dina Titus has introduced the Fair Markets and Sports Integrity Act, federal legislation aimed at preventing regulated prediction market exchanges from offering contracts tied to sporting events or casino-style outcomes when those contracts resemble wagers overseen by state gaming authorities. Titus says companies are exploiting gaps between federal commodities rules (CFTC) and state gaming law to sell products that act like sportsbooks. The bill would push oversight back to the states and demand clearer protections and accountability for users.
The proposal arrives amid ongoing legal battles involving operators such as Kalshi and Polymarket across Massachusetts, Nevada, Maryland, New Jersey and California. Courts have delivered mixed rulings while trading on prediction platforms has surged — Kalshi reported over $1 billion in trades on the Super Bowl alone — drawing scrutiny from responsible-gambling groups. Titus has faced criticism in Nevada over perceived ties to the gaming industry; she denies this and frames the bill as consumer and state-protection legislation. The measure is now before a House committee, signalling a shift from courtroom fights to potential congressional action.
Key Points
- The Fair Markets and Sports Integrity Act would ban regulated exchanges from enabling trades tied to sports contests or casino-style events that look like wagers regulated by states.
- Titus argues some prediction market firms are exploiting regulatory gaps between the CFTC and state gaming regulators to offer gambling-like products.
- Legal disputes involving Kalshi and Polymarket are ongoing in multiple states, producing inconsistent court decisions about federal vs state regulatory authority.
- Trading volumes are ballooning — Kalshi reported more than $1bn in Super Bowl trades — prompting concerns from responsible gambling advocates about consumer harm and product transparency.
- The bill has triggered political backlash in Nevada, with critics alleging Titus is protecting the local casino industry; she rejects those claims and says the aim is consumer protection and defending state authority.
- With the bill in a House committee, the regulation of prediction markets looks set to move from state courts to Congress, raising the stakes for operators and regulators alike.
Why should I read this?
Short version: this could reshape how prediction markets work in the US. If you follow gambling, fintech or regulatory news, Titus’s bill means big platforms might lose the ability to list sports-style contracts — or could face federal limits that hand more power to states. It’s where law, big money and consumer protection collide, and yes, it’s worth a quick read so you know which side of the fence the rules might land on next.