Khanna calls on Congress to ban sports prediction markets

AI Summary

Rep. Ro Khanna urged Congress to ban sports prediction markets, arguing they resemble sports betting while evading state and tribal gambling laws. He cited concerns about addiction, youth exposure, and lost state tax revenue.

California Rep. Ro Khanna (D) on Tuesday called on Congress to ban sports prediction markets, raising concerns about how they “fuel addiction” and expose the American youth to “public health risks.” “Sports prediction markets are sports betting disguised as financial trading. They flout state and tribal gambling laws, siphon state tax revenues, fuel addiction, and…