Posted on: February 11, 2026, 10:43h.
Last updated on: February 11, 2026, 11:14h.
- Dina Titus wants Congress to ban sports and casino-style contracts on prediction markets
- Titus is being criticized for authoring the bill on behalf of Las Vegas casinos
- Many have claimed that Titus is attempting to protect her own pockets
United States Rep. Dina Titus (D-NV) is facing backlash from many of her Nevada constituents after she introduced legislation this week to ban prediction markets from offering contracts involving sports or casino-style gaming outcomes.
The US Commodity Futures Trading Commission regulates prediction markets. As derivative trading platforms facilitating the buying and selling of binary markets and yes/no contracts, the CFTC’s current policy says such licensees are to refrain from offering contracts involving “gaming.”
A favorable CFTC governorship under the Trump administration, however, has eased such rules. Last month, CFTC Chair Michael Selig, appointed by President Donald Trump last October, said he advised his staff to withdraw the prohibition on political and sports-related event contracts and to rewrite the prediction market rules.
Titus, through her Fair Markets and Sports Integrity Act, seeks to restore order by banning CFTC-regulated entities from engaging in transactions involving sports or casino-style event contracts. Officially House Resolution 7477, the legislation has been sent to the House Agriculture Committee.
Titus Criticism
On X, where Titus first announced HR7477, which currently has no cosponsors, many scolded the Democratic congresswoman. Her followers opined that Titus is simply seeking to protect her many casino donors that are possibly being harmed by prediction markets.
“Oh no, the house is not winning, and Polymarket isn’t paying me. Let’s make this illegal and call it ‘fair,’” read one X reply to Titus’ post.
I’m sure this bill was written to protect US citizens and not the pockets of the casinos,” read another comment. “You are why my generation hates boomers.”
Federal campaign finance records reveal that MGM Resorts, Wynn Resorts, Boyd Gaming, and Caesars Entertainment have heavily supported Titus’ congressional elections.
Titus says her bill is to protect state gaming laws from federal overreach and safeguard consumers.
Prediction markets should not be able to circumvent state gaming laws. Consumers deserve transparency, accountability, and protection against such predatory practices,” Titus said.
“That is why I introduced the Fair Markets and Sports Integrity Act to prevent entities from engaging in transactions involving sporting or casino-style event contracts,” she continued.
Prediction Markets Haven’t Engaged Casino Contracts
Prediction markets have not yet launched trading contracts involving casino-style games.
However, if prediction markets can argue that the outcome of a sporting event isn’t gambling but a futures option, couldn’t that same precedent apply to the outcome of a slot machine spin winning or losing, or whether the next spin of the roulette wheel is red or black?
Titus is also behind the FAIR Bet Act, which seeks to restore the gambling loss deduction to 100% after it was trimmed to 90% in the Republicans’ One Big Beautiful Bill. Unless the tax deduction is restored, there are concerns that professional sports bettors and gamblers will move to prediction markets and offshore operations where their losses come with more favorable tax possibilities.
Source link
