The Senate will begin sports betting hearings later this month
The Senate Subcommittee hearing will examine the rapid expansion of sports betting in the United States. Its growing impact on the integrity of games will also be discussed.
Since the recent advent of prediction markets and the Supreme Court’s 2018 decision to strike down the Professional and Amateur Sports Protection Act, much has changed. What was once a tightly restricted sports gambling industry has evolved into a $165 billion market. Sports betting is currently offered in 39 states and the District of Columbia.
Discussion of the effects of this expanding availability of sports gambling will be a talking point. The growth of cases regarding athlete performance manipulation and the sharing of insider information to win sports bets will also undergo scrutiny. Recent gambling scandals have tarnished numerous American sports leagues. The list includes the NBA, MLB, UFC, MLS, and the NCAA.
"Fans shouldn’t have to wonder if their favorite player missed a buzzer-beater or dropped a touchdown pass because of a secret bet," Senate Commerce Committee Chairman Ted Cruz (R-Texas) said. "Unfortunately, recent episodes have planted that seed of doubt and raised questions about whether changes are necessary to integrity in sports."
Betting scandals are impacting the integrity of sports
In light of these threats to the integrity of sports, the hearing will gather testimony on whether the current framework adequately thwarts attempts to rig outcomes. It will also assess if additional action is necessary to ensure transparency, fairness, and integrity.
“Fair play is the foundation of American sports," said Senator Marsha Blackburn (R-Tennessee), the chair of the Senate Commerce Subcommittee on Consumer Protection, Technology, and Data Privacy. "But recent match-fixing scandals in professional sports have put a spotlight on the risks facing the integrity of competition.
"This hearing will examine how we strengthen oversight, protect the credibility of competition, and address the growing exposure of young people and children to betting platforms.”
Prediction markets will also be on the docket
Along with discussions of the integrity of sports betting, prediction market sites are also on the agenda. Their role in changing the landscape of sports betting will be under examination.
"As traditional online betting platforms and new entrants like prediction markets continue to intersect with sports, we need a clear understanding of how these platforms operate and what they mean for the integrity of the game," Sen. Blackburn said.
The list of people scheduled to testify before the subcommittee includes Patrick McHenry. He's the Senior Advisor to The Coalition for Prediction Markets. The subcommittee will also be hearing from American Gaming Association Chief Executive Officer Bill Miller. Integrity Compliance 360 CEO Scott Sadin and Tennessee Sports Wagering Council Executive Director Mary Beth Thomas are also on the docket.
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