U.S. lawmaker urges ban on sports prediction markets

U.S. Democratic Rep. Ro Khanna urged a ban on sports prediction markets, saying in an X post that they amount to sports betting disguised as financial trading and violate state and tribal gambling laws. Khanna said the markets divert state tax revenue, fuel addiction, expose young people to public health risks, and bypass consumer protections put in place by state governments. Khanna added Congress must ban them.