Americans Push for Gambling Oversight of Sports Event Contracts
The American Gaming Association (AGA) has released new research showing that most Americans believe sports event contracts offered on prediction platforms should be treated as gambling products rather than financial instruments. The findings add momentum to calls for these markets to face the same regulation as sportsbooks.
Sports event contracts allow users to place money on the outcome of future sporting events, similar to betting on whether a team will win a game. Despite their resemblance to wagers, some platforms promote them as financial products outside the traditional gambling framework.
Clear Majority Sees Gambling, Not Finance
The survey, conducted by YouGov between August 1 and August 8 with 2,025 registered voters, highlighted widespread agreement that these products fall within gambling laws. According to the results, 85% of respondents considered sports event contracts to be gambling, while just 6% saw them as closer to financial tools.
When provided with practical examples, such as putting money on a New York Yankees victory in a specific game, participants overwhelmingly categorized the activity as betting, aligning it with traditional sportsbook operations rather than commodity trading.
The study also revealed skepticism about how prediction platforms operate. About 70% of Americans said these companies function like unlicensed sportsbooks, taking advantage of regulatory gaps. Within that figure, 44% strongly agreed with the statement and 26% somewhat agreed.
Bill Miller, AGA President and CEO, pointed to the clarity of the results: “This research has made it clear: Americans know a sports bet when they see one—and they expect prediction markets offering sports event contracts to be held to the same rules and consumer safeguards as every other state-regulated sportsbook.”
He also underscored the regulatory stakes, adding: “This underscores the need for the CFTC to enforce and uphold its own regulations that prohibit gaming contracts, and for Congress to use its oversight power to ensure prediction markets are not used as a backdoor for gaming.”
Preference for State and Tribal Regulation
The AGA findings highlighted strong public support for state and tribal oversight, mirroring the system already in place for sports betting. About 65% of respondents favored state and tribal gaming regulators as the appropriate authorities to oversee sports event contracts. By contrast, only 35% said the Commodity Futures Trading Commission (CFTC) should have jurisdiction.
The survey further showed that 84% of Americans, including 69% of those who already bet on sports, think these contracts should be available only through state-licensed sportsbooks. In addition, 69% supported giving individual states the authority to determine whether such products should be allowed locally.
These views align with the current model of legalized sports betting, now active in 38 states and Washington, D.C.
Responsible Gaming and Licensing Expectations
Respondents also pointed to the importance of accountability beyond licensing alone. Nearly two-thirds, or 64%, said that responsibility for consumer protections should be shared by both regulators and operators, while only 36% believed it should rest solely on the individual.
There was little appetite for allowing prediction platforms to continue without proper licensing. Only 16% of respondents supported such operations, whereas 84% insisted that these companies must secure approval within the states where they plan to offer services.
The AGA summarized the findings by noting that the public overwhelmingly recognizes sports event contracts as gambling and expects them to be regulated under the same rules and safeguards that apply across the legal sports betting market.
Source: Americans Call For Gambling Oversight of Sports Event Contracts, World Casino Directory, September 12, 2025.