Adam Schiff: “In California we don't allow sports betting. It ought to be…”

“But we're seeing something very different with him actively intervening to support these prediction markets, notwithstanding that they're really indistinguishable from sports betting. And In California we don't allow sports betting. It ought to be up to the states to decide what kind of gambling goes on within their state. This kind of end run around the law is encouraging vast amounts of gambling. We saw a billion dollars of trading and prediction contracts just over the super bowl alone.” (01:38–01:46)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.