Senators from both parties called on the Commodity Futures Trading Commission to rein in regulated companies that offer sports betting as a type of event contract, arguing the agency is implicitly giving a green light nationwide to gaming products that are supposed to be regulated by states and tribes.
The CFTC should enforce federal prohibitions against offering sports betting across all 50 states, Sens. Catherine Cortez Masto (D-Nev.), John Curtis (R-Utah), Ruben Gallego (D-Ariz.), Elissa Slotkin (D-Mich.), Alex Padilla (D-Calif.), and Adam Schiff (D-Calif.) said in a letter Tuesday obtained by Bloomberg Law.
The derivatives regulator has attempted to thread ...