TULSA, OK – The Indian Gaming Association (IGA) is continuing its national effort to challenge prediction market gambling, with Chairman David Z. Bean calling on tribal leaders to remain engaged as the issue moves through Congress and the courts.
During the August 12 episode of IGA’s “The New Normal,” Bean joined Conference Chairman Victor Rocha and Executive Director Jason Giles to discuss the Association’s legislative and legal strategy and recent tribal advocacy in Washington, D.C.
“Our message is clear. We are not opposed to prediction markets, cryptocurrency, or other new frontiers in technology,” said Chairman Bean. “What we are opposed to are prediction markets in the sports betting and gambling space, these are not swap.”
In recent months, tribal leaders have participated in coordinated fly-ins, congressional meetings and IGA’s Summer Legislative Summit to raise concerns that prediction market platforms are offering sports wagering outside the regulatory framework established under the Indian Gaming Regulatory Act (IGRA), tribal-state gaming compacts and state gaming laws. Bean said the increased participation of tribal leaders has helped raise awareness of the issue in Washington.
The discussion also addressed efforts to quantify the economic impact of prediction markets on tribal gaming. IGA has commissioned an economic study and is gathering information from tribal nations, but Bean argued that tribes should not have to demonstrate substantial financial losses before policymakers or regulators address the issue.
“It shouldn’t be that you have to show that you’re going out of business due to illegal activity for them to stop the illegal activity,” said Bean. “It’s illegal.”
IGA is coordinating with the National Congress of American Indians (NCAI) and Native American Rights Fund (NARF) on legal efforts while continuing its congressional outreach. The Association also plans additional congressional outreach during NCAI’s Impact Week in Washington this September and engagement with state and regional tribal organizations.
“We cannot take our foot off the pedal here,” said Bean. “If anything, we have to press the pedal even harder and show up in numbers back in D.C.”
IGA will continue mobilizing tribal leaders, supporting potential litigation and strengthening its Sovereignty Defense Fund as the prediction markets issue moves through Congress, federal regulatory agencies and the courts.