Today I’m writing to urge you to push for legislation that bans sports prediction market contracts, like the new PREDICT Act.
These prediction market companies create a direct financial incentive to manipulate game outcomes, threatening the integrity of athletic competition at every level.
Prediction markets on sports are fundamentally different from other forms of betting because they allow participants to profit from insider information and create perverse incentives for athletes, coaches, and officials who have access to non-public information or the ability to influence results.
When people can bet on granular outcomes like specific plays or player statistics, the door opens to corruption that traditional sports betting regulations weren't designed to address.
We've already seen how gambling integration has increased problem gambling rates and exposed young fans to constant betting promotions.
Expanding into prediction markets takes this further by framing gambling as sophisticated financial analysis rather than what it is: wagering on games.
This normalization is particularly harmful to young people who are already bombarded with sports betting advertising.
Professional sports leagues have spent decades fighting to maintain competitive integrity. Allowing prediction markets on sports undermines that work and puts every game under a cloud of suspicion.
Please act to support the PREDICT Act and prohibit these contracts before they become entrenched. Thank you.
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