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The Sports Betting Alliance says it has no formal position on prediction markets, choosing instead to keep its advocacy focused on expanding and defending state-regulated sports betting and iGaming.
SBA president Joe Maloney told Covers the group is not lobbying for or against prediction markets, even as the issue becomes one of the biggest flashpoints in U.S. gambling policy. The alliance represents FanDuel, DraftKings, BetMGM, Fanatics Sportsbook, and bet365.
"There’s no formal position," Maloney said. He added that some members have launched prediction market products while others have not, and those decisions are being left to each company.
That matters because prediction markets are now drawing scrutiny from state lawmakers, regulators, and the courts. According to the report, DraftKings, FanDuel, and Fanatics operate or have entered the space, while questions continue to build around consumer protections, licensing, taxation, and responsible gambling standards.
Maloney said the alliance’s core mission has not changed. "We are in the business of strengthening the state-regulated market wherever it exists in the country, and we’re in the business of continuing to expand that opportunity across the country," he said.
He also described prediction markets as "the most dynamic topic in the gambling world right now" and said the debate is helping bring more legislative attention to gambling regulation more broadly.
For sportsbook users, the immediate takeaway is that the industry’s main trade group is not presenting a unified position on prediction markets. Instead, major operators may continue to pursue different strategies while legal and regulatory questions play out.
Maloney also said SBA members are not reporting meaningful cannibalization of regulated sportsbooks at this point. According to him, companies continue to view the state-regulated sportsbook product as both popular and superior.
What happens next could be decided well beyond operator strategy. The Covers report notes that litigation over prediction markets is moving through federal courts and could eventually reach the U.S. Supreme Court, while state officials continue weighing how sports-related event contracts should be treated under existing gambling rules.
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Source: As reported by Ryan Butler.
