"CNIGA has been deeply troubled by Chair Selig’s intent to accelerate rather than police the spread of illegal gambling on prediction markets. Congress clearly wrote the Commodity Exchange Act to ban contracts tied to gaming, but the CFTC's inaction emboldens these platforms more and more each day."
"The numbers don’t lie. More than 40 percent of all Super Bowl bets were placed through illegal prediction markets. That level of lawlessness is astounding; in 2010, elected leaders stood on the floor of the Senate proclaiming that the CEA prohibits prediction markets on the Super Bowl, and only two years ago, these contracts didn't even exist. CNIGA applauds Sen. Schiff and his colleagues for holding Chair Selig accountable for his commitments he made to the Senate Agriculture Committee in his November confirmation hearing, and we look forward to working with them to protect tribal and state sovereignty in the gaming market."
Source: California Nations Indian Gaming Association (CNIGA)