Skip to player
Skip to main content
Skip to footer
Search
Connect
Watch fullscreen
Like
Comments
Bookmark
Share
Add to Playlist
Report
Senate to Decide Fate of Prediction Markets in the U.S.
SportsGrid
Follow
6/13/2025
Category
🥇
Sports
Transcript
Display full video transcript
00:00
the senate getting involved on uh to figure out whether or not these should exist that's really
00:04
the bottom line uh what are prediction markets let's educate people here these are companies
00:10
that basically have listed the possibility of you putting money on something that can be predicted
00:16
in the future does it sound like sports betting yes it does do they say it's sports betting no
00:22
they don't so naturally sam eventually this summer or in the fall this is going to come to a head
00:28
one way or the other sam prediction markets are going to either be eliminated or they're going to
00:34
pop up everywhere around the united states and sports betting is going to be the wild wild west
00:39
yeah and by the way craig they already are popping up everywhere if you open up a robin hood app right
00:47
now you can not only uh pay for your uh finance your uber eats order or your doordash order but
00:53
you can be asked if you want to bet on the outcome of a game but like you so eloquently put it
00:57
not actually betting you just had to use a lot of words to explain what the actual process was
01:03
and then you have to take five seconds and say wait that sounds a lot like sports betting and for
01:07
lawmakers it's the same they just held a hearing this week on the new uh nominee to head the cftc
01:13
which supposedly is going to be the agency that figures all this out when this comes to a head this
01:19
summer they've talked about having a hearing to be the first step of figuring out what the heck we do
01:25
in this process because you've had companies like calci polymarket just launch these markets in 50
01:30
states and say whoa we're not sports betting we can keep acting and by the way they don't have to
01:36
get any of their markets approved by anybody they can offer whatever whenever because they operate
01:41
via a self-certification process meanwhile the cftc has done nothing there's a new commissioner that's
01:46
been nominated the senate is hearing the nomination and trump's nominee to head the cftc which is supposedly
01:54
going to figure out whether these prediction markets are sports betting or whether they are not
01:58
like you put it craig he is actually a board member of calci which is the biggest company in this space
02:03
he was grilled by senators at the hearing this week about potential conflict of interest he said he'll
02:08
recluse himself uh if he gets nominated but a lot of senators have brought up the fact that you know
02:13
you'll still kind of have a bias against us so on top of that donald trump's son donald trump jr
02:19
is also a member of calci and works for that company so it'd be very favorable for the administration
02:25
and the guy who has been nominated to figure this all out if this stuff continues meanwhile other people
02:32
have called for them to reject his domination i think only about nine cabinet members or federal
02:36
agency members have ever been rejected in u.s history the last one being in 1983 so that would be
02:42
very unlikely uh but it is possible that he withdraws his name if this gets enough kind of attention
02:47
about the potential conflict of interest so they're going to decide on this process in the coming
02:53
weeks whether he's confirmed or not um but it just adds to the growing uncertainty around this crazy
02:57
prediction market stuff which again is technically not sports betting but it kind of is
Recommended
2:53
|
Up next
Regulating Prediction Markets: A Nationwide Challenge
SportsGrid
5/2/2025
3:46
Growing Legal Challenges in Prediction Betting Markets
SportsGrid
4/7/2025
3:10
Nevada Battles Prediction Markets and Legal Issues
SportsGrid
4/11/2025
3:28
Kalshi's Market Impact: Election Betting & Legal Challenges
SportsGrid
5/8/2025
2:28
Rhode Island to Expand Sports Betting Market in 2025
SportsGrid
6/9/2025
2:01
Oklahoma Sports Betting Hopes Dim as Legislative Session Ends
SportsGrid
4/11/2025
2:21
Michigan's Strict Stance on Prediction Markets and Regulation
SportsGrid
5/24/2025
2:39
Massachusetts Moves Forward with Online Casino Bill
SportsGrid
6/19/2025
3:50
Rapid Growth of Prediction Markets: An Industry Trend
SportsGrid
5/10/2025
2:30
Changes in Sports Betting Advertisments Amid Legal Shifts
SportsGrid
2/5/2025
2:56
Legal Clash Over Sports Prediction Markets Escalates
SportsGrid
4/18/2025
2:55
Betway to Exit US Market Amid Low Profitability Outlook
SportsGrid
7/10/2024
1:55
Texas Faces Uphill Battle in Legalizing Sports Betting
SportsGrid
3/12/2025
2:04
DraftKings Explores Prediction Markets Amid Legal Dynamics
SportsGrid
3/15/2025
1:29
Oklahoma Nears Sports Betting Legalization Amid Debate
SportsGrid
3/28/2025
2:50
Oklahoma Sports Betting Future: Delays and Debates
SportsGrid
6/16/2025
2:31
Bet365 Explores Sale Options Amid U.S. Market Expansion
SportsGrid
5/6/2025
2:32
CEO Shuffle at BetMGM Amid Strong Growth and Earnings
SportsGrid
2/12/2025
3:33
Is Oklahoma the Next State for Legal Sports Betting?
SportsGrid
5/1/2025
3:30
Emerging Trends in Prediction Market Platforms & Sports
SportsGrid
4/11/2025
4:08
Key Outcomes from the U.S. Senate Sports Betting Hearing
SportsGrid
12/18/2024
2:41
Missouri Delays its Sports Betting Approval for 2025
SportsGrid
2/26/2025
3:13
California's Sweepstakes Casino Ban and Future Gambling
SportsGrid
6/25/2025
3:19
ESPN Bet's Struggle for Market Dominance in Sports Betting
SportsGrid
6/20/2025
2:32
DraftKings CEO Discusses Sports Betting Market Dynamics
SportsGrid
12/6/2024