The Pennsylvania Gaming Control Board is taking opposition to “prediction markets” and their impact on the gambling industry.
A prediction market is a platform where people can bet on the future outcome of an event, like sports or an election.
Gaming Control Board executives said in a statement that prediction markets are “masquerading as unregulated sportsbooks.”
Anyone 18 and older can be active on prediction markets, opposed to the age limit of 21 for gambling at casinos or sportsbooks. Officials say that rule is having a negative impact on young people, who are suffering from gambling addictions at higher rates.
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