{"id":1409,"date":"2026-06-17T22:08:58","date_gmt":"2026-06-17T22:08:58","guid":{"rendered":"https:\/\/xrpfaucet.site\/?p=1409"},"modified":"2026-06-17T22:08:58","modified_gmt":"2026-06-17T22:08:58","slug":"gaming-groups-urge-congress-to-ban-prediction-markets-sports-betting","status":"publish","type":"post","link":"https:\/\/xrpfaucet.site\/?p=1409","title":{"rendered":"Gaming Groups Urge Congress to Ban Prediction Markets Sports Betting"},"content":{"rendered":"
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\ud83d\udcf0 Exclusive Crypto News & Analysis:<\/strong> Stay ahead with the latest developments in the cryptocurrency and blockchain space.<\/p>\n

\ud83d\udcc8 Market Update:<\/strong> Real-time price movements, technical analysis, and trading signals.<\/p>\n

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Today in crypto, gambling industry groups want the US Senate to clarify that the CFTC doesn\u2019t have the authority to oversee prediction markets.<\/p>\n

Also, the EU\u2019s Markets in Crypto-Assets Regulation (MiCA) deadline looms over crypto exchanges serving the bloc, and the US Congress reached a deal to advance a housing bill that includes a central bank digital currency (CBDC) ban.<\/p>\n

Gaming groups urge Congress to ban prediction markets sports betting in CLARITY Act<\/h4>\n

Several national gaming and tribal organizations and labor groups<\/span><\/a> have reportedly called on the US Senate to add language \u201cthat explicitly prohibits event contracts tied to sports and casino-style gaming\u201d in the Digital Asset Market Clarity (CLARITY) Act.<\/p>\n

According to a Wednesday Semafor report, groups tied to sports betting, including the Indian Gaming Association and American Gaming Association have united<\/span><\/a> against what they called gambling on prediction markets. They requested that the US Congress use the CLARITY Act now under consideration in the Senate to affirm that \u201csports betting falls outside the (Commodity Futures Trading Commission\u2019s) remit and cannot be offered through prediction market platforms.\u201d<\/p>\n

\u201cWhile our organizations may differ on other issues, including gambling policy, we are united in our concern that prediction markets have fueled the largest expansion of gambling in US history over the past 18 months \u2014 without voter approval or legislative authorization,\u201d said the letter.<\/p>\n

The pushback from the groups comes as the Commodity Futures Trading Commission (CFTC) under Chair Michael Selig has claimed \u201cexclusive jurisdiction\u201d over prediction markets. Selig has led the financial regulator in supporting platforms like Kalshi and Polymarket<\/span><\/a> against lawsuits by state-level gaming authorities.<\/p>\n

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Source: <\/em>Traffic lights<\/em><\/a><\/p>\n

BitGo courts crypto firms awaiting MiCA approval<\/h2>\n

BitGo, a crypto custody company, is moving into Europe\u2019s tighter regulatory landscape<\/a> as exchanges race to maintain access ahead of a key licensing deadline.<\/p>\n

BitGo Europe launched a crypto-as-a-service platform aimed at meeting the EU’s MiCA, the company said in a statement shared with Cointelegraph on Wednesday.<\/p>\n

BitGo CEO Mike Belshe said<\/a> companies shouldn\u2019t leave users waiting during licensing delays, arguing that regulated infrastructure can keep platforms active in the meantime.<\/p>\n

\u201cWe can help keep you moving safely and compliantly,\u201d he said.<\/p>\n

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Source: Mike Belshe<\/em><\/p>\n

The launch comes with the EU’s July 1 MiCA deadline<\/a> approaching, requiring crypto companies to obtain authorization to continue serving customers across the bloc. Reports on Tuesday suggested Greek regulators may reject Binance\u2019s MiCA license application<\/a>adding uncertainty to the EU regulatory status of the world’s largest crypto exchange<\/a> by trading volume.<\/p>\n

Congress reaches deal on housing bill with CBDC ban<\/h2>\n

US House and Senate leaders reached a deal to move forward with a bill<\/a> aimed at addressing housing affordability, which will include a ban on the Federal Reserve creating a CBDC until 2030.<\/p>\n

A bipartisan group of House and Senate leaders released an updated version of the 21st Century Road to Housing Act on Tuesday after negotiations over disagreements on some aspects of the bill. The latest version kept in a CBDC ban that has been included since the Senate passed it in March. The House also passed its version of the bill with strong support in May.<\/p>\n

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Source: <\/em>US Senate Banking Committee GOP<\/em><\/a><\/p>\n

House Republican leaders reportedly plan to put the bill up for a vote after the House returns from recess on June 23 and is likely to hand a win to Republicans who have tried to pass a CBDC ban for years, as earlier standalone bills had stalled in Congress.<\/p>\n

The bill says the Federal Reserve may not, directly or indirectly, \u201cissue or create a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency,\u201d a clause that will expire on Dec. 31, 2030.<\/p>\n

US President Donald Trump signed an executive order in January 2025 banning federal agencies from all work related to CBDCs, saying they threatened \u201cthe stability of the financial system, individual privacy, and the sovereignty of the United States.\u201d<\/p>\n<\/div>\n

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\ud83d\udd17 Explore More:<\/strong> Check our sections for in-depth guides, exchange reviews, and blockchain technology deep-dives.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\ud83d\udcf0 Exclusive Crypto News & Analysis: Stay ahead with the latest developments in the cryptocurrency and blockchain space. \ud83d\udcc8 Market Update: Real-time price movements, technical analysis, and trading signals. Today in crypto, gambling industry groups want the US Senate to clarify that the CFTC doesn\u2019t have the authority to oversee prediction markets. Also, the EU\u2019s …<\/p>\n","protected":false},"author":1,"featured_media":1410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts\/1409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1409"}],"version-history":[{"count":0,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts\/1409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/media\/1410"}],"wp:attachment":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}