Iga calls for CFTC to ban the markets of sport prediction results

The tribal nations of North America consider the markets of the results of the sport prediction as a threat to the exclusivity of their games.

The Indian Games Association (IGA) is one of the 10 tribal groups that have recently challenged the legality of the contractual site Kalshi Providing sports -like contracts in US Fauration Trading Commission (CFTC) The round market.

“IgA strongly urges CFTC to specify that sports contracts are forbidden to be listed or available for compensation or trading,” the non -profit games group represents more than 180 tribes in a letter.

“The trading of sports contracts represents games, violates the law of the state and federal and is contrary to public policy for different reasons,” the letter continues.

“Important, allowing to be listed and trading sports contracts will interfere with the sovereign right of tribes and states to exercise the power of the police to regulate the games in the respective territories – a right for the United States for a long time.”

IgA claimed that listing and trading these contracts would destroy the value of tribal games with American states and would hurt their income of sports betting.

“Moreover, it directly violates the law of exchange of goods (” the “one”) and the simple language of the CFTC implementation regulations, because it involves games and violates the laws of the state and federal, “said IgA.

“Any decision according to which the sports contracts respect the one would therefore be to lead the simple text and its implementation regulations.”

Other opponents

American Gaming Association, a US group for the trade industry, said in CFTC comments that, although he had not publicly published, he wants to have more discussions about prediction-resulted markets, he says he has injured our games.

“The GMS and our members have very strong concerns regarding the recent self-confinement of what are essentially futures of sports betting, which are currently available for retail customers from all 50 states,” said the organization representing commercial casino and tribal operators, as well as sports betting and Igaming companies.

“We believe that these contracts of sporting events are problematic for several reasons for public policies.”

Aga says that contracts are “an unfair economic threat to sports book operators” in the 40 jurisdictions of US legal sports betting. The GMS also claims that the contracts introduce a “national” betting product that undermines the state regulations and agrees with the IgA that “the availability of these products steps on tribal sovereignty.”

The tribal organizations that have joined the IgA include the Indian Association of Games in Arizona; Indian India Games Association in California; Confederate tribes of Siletz Indians, Elk Valley Rancheria, California; Jamestown tribe S’klallam; Indian Games Association of Oklahoma; Santa Ynez Band of Chumash Indians; The tribal alliance of the Sovereign Indian nations; Vetnos LLC and Chicken Ranch Rancheria Me-Wuk Indians from California; and Yuhhaviatam from San Manuel Nation.

Adding to the market

The reaction comes The month after Kalshiwho broke out on stage in November last year, offering electoral bets on his prediction-resulted markets, began to offer Super Bowl, Madness March and other sports options for his commercial community.

Kalshi’s contracts on US sports leagues will work among other federal regulated markets, such as politics, economics and culture.

CFTC opposed Kalshi’s results during the 2024 elections in the US, but a federal judge decided in favor of the site.

However, this was during the administration of President Joe Biden. CFTC has undergone leadership changes since President Donald Trump regained the position last month.

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