Gambling is Not Investing

Who said that it wasn’t about sports betting? @CFTC

@KeatonInglis Amazing what you can do when you dodge taxes that sportsbooks pay!

All I see is that Kalshi has better payouts for users

Mick's Picks @MickMulvaney is riding with Michigan to cut down the nets! When wagering on your national champion, remember that prediction markets skirt the consumer protections and state tax structures that legal sportsbooks comply with.

Mick's Picks best bet for the Round of 64 is here! @MickMulvaney is picking South Florida moneyline. Reminder to only bet legally and responsibly on regulated sportsbooks, not on unsafe and unregulated prediction market platforms.

Prediction markets are flouting state and tribal laws and targeting our youth with unsafe and unregulated sports betting disguised as so-called sports event contracts. It’s time to close the regulatory backdoor. Hear Executive Director @MickMulvaney's latest thoughts in Fortune.

Welcome to Mick's Picks! With March Madness upon us, @MickMulvaney is betting the right way: in a safe, legal & regulated sportsbook. Take a look at the options below and you tell us why one is regulated as sports betting while the other is treated like investing.

We agree with @Underdog CEO @JerLevine- prediction markets are sports betting!

Two U.S. Representatives have introduced a bill to prohibit event contracts based on sports, terrorism, assassination, war, or illegal activity. The bill includes a clause to allow states to opt out of the sports event contract ban if they so choose. sportsbettingdime.com/news/betting/u…

Prediction markets have a teen gambling problem: Prediction markets are luring teenage gamblers, and that's a problem as depression, addiction, and financial loss loom dlvr.it/TRLNGp

Read more about the legislation here: blakemoore.house.gov/media/press-re…

Gambling is Not Investing Executive Director @MickMulvaney comments on Event Contract Enforcement Act: “Today’s introduction of the Event Contract Enforcement Act is an important step toward reining in these pernicious prediction market operators that flout seriously debated and well-crafted state laws governing sports gambling. These so-called prediction markets are nothing more than a backdoor for unregulated sports gambling.  They are unilaterally making online sports gambling widely available to anyone in the country without the consumer protections, age restrictions, and state and local tax benefits that govern legalized sports betting. These unsafe and unregulated sports gambling markets are bad for Americans. Gambling is Not Investing applauds Congressmen Moore and Carbajal for confronting these risks head-on.”

Read the full story by @ByKLong @KevinTDugan @DanaMattioli + @AngelAuYeung here: wsj.com/business/media…

Gambling is not investing. These platforms should NOT be regulated like crop futures. They are sports gambling platforms.

So-called prediction markets (gambling platforms) are violating legally mandated state age restrictions. Now we learn they are actively targeting the youngest and most vulnerable in society. End the madness! End unsafe & unregulated sports gambling!

Prediction markets are unsafe & unregulated sports gambling. wsj.com/business/media…

DraftKings said the quiet part out loud.