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Adam Schiff: “We're seeing [the CFTC Chairman] actively intervening to…”

Featuring: Adam Schiff, Democratic | U.S. Senate, California

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Sens. Schiff and Curtis on the Prediction Markets Are Gambling Act, state of DHS negotiations

Published | Video Starts at 01:28

Did he have a position on whether these contracts were gambling or sports betting? He said he didn't, that he was a tabula rasa, that he was going to leave it to the courts. But We're seeing [the CFTC Chairman] 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. (01:28–01:38)

CLAIM

Asserts that the CFTC Chairman is supporting prediction markets similar to sports betting.

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Adam Schiff

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