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In response, DeNault noted that prediction markets regulated on the federal level by the CFTC offer a “safer alternative” than many offshore operators that lack the requisite consumer protections.
“You can go the combative route and ban something that’s federally regulated,” he said. “But what you’ll end up with is a bunch of customers in Texas just going offshore.”
The committee also heard from Brianne Doura-Schawohl, a nationally recognised problem gambling expert. One study cited by Doura-Schawohl found that 52% of Gen Z respondents include sports betting and prediction markets as part of their long-term financial plan.
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He said the regulation was well established and not with the intention of raising revenue.
“Tax collection is part of the economic game and all sectors contribute,” Durigan said. “The same happens with betting.”
He argued the sector should be treated with the same rigour currently applied to cigarettes.
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In the end, Week 1 and Week 2 could hardly have been more different, said Joey Feazel, head of football at Caesars Sportsbook.
The book enjoyed a steady diet of low-scoring primetime games in Week 1, but Week 2 began with an all-you-can-eat touchdown buffet for bettors on Thursday night,” Feazel said. “Seven of the eight most popular touchdown scorers cashed, and the only player who failed to score, DJ Moore, was refunded under Injury Protection.”
The biggest game for bettors at Caesars Sportsbook was Lions-Bills, while the most favorable for the house was Vikings-Bears—a 9-3 defensive battle won by Minnesota.
