Research from the American Gaming Association (AGA) shows that four out of five American voters believe sports prediction markets should be more tightly regulated.
The study, by the AGA, was titled “Sports Event Contracts: Public Opinion Landscape” and canvased a broad swathe of the voting populace that viewed prediction markets in the same light as any other form of regulated gaming.
Of those canvased, 85% say that the markets are not financial instruments, but also fall into the same category as betting and sports wagering markets.
Prediction markets are emerging to match established gambling firms
There has been a long debate over the legality, proper regulatory structure, and the validity of prediction markets across America, especially those that cover sporting events.
New AGA research shows that Americans view sports events contacts offered through prediction markets as gambling, not financial instruments. Read more about how Americans believe they need more regulation
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— American Gaming Association (@AmericanGaming) September 10, 2025
We have conducted in-depth coverage of prediction providers like Kalshi and Polymarket, as they have expanded their market presence despite facing state legislature backlash and lengthy court battles.
Their emergence has led to a boom in outcome-based wagering across the nation, with prominent gambling names like FanDuel entering the prediction market fray once they saw the financial windfall that they could bring, as well as possible competition for consumer dollars.
AGA report shows most Americans want stricter regulations for prediction markets
One thing that remains a constant in the discussion surrounding prediction markets is their lack of a dedicated regulatory framework under which they fall. This has led to the AGA surveying the American people and providing this report, which has some key takeaways.
President and CEO, American Gaming Association, Bill Miller said, “With sports betting operational in 38 states and Washington, D.C., consumers expect prediction markets to follow the same rules and safeguards as state-licensed sportsbooks.”
80% of survey respondents believe that sports event markets provided by prediction markets should fall under the same regulatory scrutiny as any other sports betting provider.
“Americans are clear: sports event contracts should be treated like other forms of sports betting and fall under state and tribal regulatory authority, not federal commodities regulators,” boldly states the evidence-led report.
According to 84% of those who took part, these markets should only be available in “state-licensed sportsbooks,” and 69% believe individual states should have control, not federal law, on deciding to allow sports event contracts to be permitted within their boundaries.
DC has been a focus for the conversation around prediction markets in general, with a former board member of Kalshi tipped to take on the mantle of Chairman of the Commodity Futures Trading Commission (CFTC), Brian Quintenz.
Quintenz announced that he would sever any remaining ties with his Kalshi colleagues and the company, but the unregulated market is calling for stricter regulations.
The AGA report “underscores the need for the CFTC to enforce and uphold its own regulations that prohibit gaming contracts, and for Congress to use its oversight power to ensure prediction markets are not used as a backdoor for gaming,” concluded Miller.
Featured image: AGA
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