WASHINGTON, July 21 -- Sen. Maria Cantwell issued the following press release:
WASHINGTON, D.C. - U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and the former chair and longest serving member of the Senate Committee on Indian Affairs, joined her colleagues in a letter urging the leadership of two key Senate committees to rein in prediction markets that are misusing federal commodity and derivatives rules to offer nationwide sports and event wagering, which infringes on tribal gaming sovereignty and circumvents state regulatory powers.
"The rapid expansion of sports event contracts through prediction markets and online casino-style gaming poses an existential threat to t...