Agency that checks prediction markets is in over its head, gambling industry leaders tell Congress
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This legal maneuver would allow the platforms that offer these wagers (companies like Kalshi and Polymarket) to circumvent state and tribal gambling rules—protections like age restrictions, advertising controls, betting limits and taxes. The CFTC has undertaken an aggressive campaign—siding with betting companies—and going so far as to sue states that are trying to preserve their jurisdiction over gambling.