Prediction Markets vs. State Gambling Statutes: A 56-Jurisdiction Legal Analysis

Sep 18, 2026

By Professor Gil Fried, Editor-in-Chief of Legal Issues in Sports Betting Prediction markets have moved from a regulatory curiosity to one of the most consequential legal battles in sports wagering. With federal courts now divided over whether states can regulate event contracts offered on federally regulated exchanges, this analysis examines the statutes, litigation and competing regulatory claims that could ultimately draw Supreme Court review. State gambling statutes vary sharply in whether t

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