Industry and Gambling Establishment Push Back
The comment period has already attracted significant organized opposition from the traditional gambling industry. The American Gaming Association, the Indian Gaming Association, the National Congress of American Indians, UNITE HERE, and the Culinary Workers Union Local 226 sent a joint letter to senators on June 16 asking Congress to use the Digital Asset Market Clarity Act to strip the CFTC of jurisdiction over sports contracts entirely.
The request reflects a deep anxiety among established gambling operators and their workforce that prediction markets — operating under federal commodities law rather than state gambling licensing regimes — represent an existential competitive threat. The traditional gambling industry is regulated and taxed at the state level; prediction markets operating under CFTC jurisdiction sidestep those frameworks entirely.