{"id":549,"date":"2026-05-23T05:36:46","date_gmt":"2026-05-23T05:36:46","guid":{"rendered":"https:\/\/americanmovershub.com\/?p=549"},"modified":"2026-05-23T05:36:46","modified_gmt":"2026-05-23T05:36:46","slug":"sen-john-curtis-says-prediction-markets-undermine-utahs-anti-gambling-laws","status":"publish","type":"post","link":"https:\/\/americanmovershub.com\/?p=549","title":{"rendered":"Sen. John Curtis says prediction markets undermine Utah\u2019s anti-gambling laws"},"content":{"rendered":"
\n

The rise in prediction markets raises concerns for states that have bans on gambling by providing loopholes to evade local laws, according to Utah Sen. John Curtis. <\/p>\n

Read more A Ugandan Latter-day Saint who had a \u2018gift of talking people out of anger\u2019<\/a><\/p>\n

In a Senate committee hearing this week, Curtis pressed federal officials on the structure of prediction markets and its striking resemblance to betting markets \u2014 arguing that without guardrails, it allows users to skirt state laws that prohibit gambling. Utah is one of just two states that bans gambling in all forms, but Curtis says those bans have been challenged due to prediction markets. <\/p>\n

\u201cIf I were hearing that back in Utah, I would say, \u2018I think something might happen. I\u2019m going to put money down on it, and I have the chance of either making more money or losing money on that.\u2019 Is that accurate?\u201d Curtis asked.<\/p>\n

\u201cYes,\u201d said former Rep. Patrick McHenry, who was testifying on the panel. \u201cAnd it\u2019s an uncertain outcome, just like whether or not you\u2019re going to have a crop that comes in this fall or not, based off of weather, unpredictable events along the way.\u201d<\/p>\n

\u201cSo, if I\u2019m talking to these folks back home in the town hall meeting, they\u2019re going to say to me, \u2018Tell me how that is not gambling,\u2019 right?\u201d Curtis replied. \u201cIt seems to meet every definition of gambling.\u201d<\/p>\n

Prediction markets under scrutiny <\/h3>\n

The exchange comes as prediction markets receive renewed scrutiny among lawmakers, particularly amid allegations of insider trading on sites such as Polymarket and Kalshi. Those allegations emerged after a Polymarket trader won $400,000 in January after predicting then-Venezuelan President Nicol\u00e1s Maduro would soon be removed from office.<\/p>\n

Read more High school baseball: American Fork edges out Skyridge in Game 1 of 6A championship<\/a><\/p>\n

Hours later, President Donald Trump announced the successful mission to capture Maduro.<\/p>\n

Curtis has previously sought to crack down on prediction markets after introducing a bill alongside California Sen. Adam Schiff in March that would prohibit prediction markets registered under the Commodity Futures Trading Commission from listing any sports-related prediction contracts or casino-style games. <\/p>\n

Those loopholes, Curtis argues, have allowed companies to evade state gambling laws, including in Utah, where the practice is illegal. Although it\u2019s illegal in Utah, some markets such as Kalshi have established loopholes by allowing traders to buy and sell contracts tied to specific outcomes. That way, the practice is framed as an investment but serves the same purpose as gambling \u2014 without needing to use platforms such as FanDuel, which are banned.<\/p>\n

Other lawmakers have expressed concerns with prediction markets, with the Senate unanimously approving a policy banning senators and staffers from using prediction markets. The House is considering implementing a similar policy. <\/p>\n

Read more High school softball: Salem Hills wins tight, defensive game over Box Elder for first 5A crown since 2014<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In a Senate hearing this week, the Utah senator warned that prediction markets provide loopholes in states such as Utah that ban gambling.<\/p>\n","protected":false},"author":1,"featured_media":548,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"\nSen. John Curtis says prediction markets undermine Utah\u2019s anti-gambling laws - American Movers Hub<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/americanmovershub.com\/?p=549\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sen. 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