Poll Finds Americans See Prediction Sports Contracts as Bets
Highlights
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The recent survey shows that only 29% of the respondents showed faith in the CFTC to regulate sports event contracts.
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The poll results come amid rising opposition to prediction markets from several states.
The data report from the market research firm reveals that more than 4 out of 5 Americans consider purchasing event contracts on prediction markets similar to gambling.
Earlier this month, the Gambling is Not Investing campaign commissioned Morning Consult to conduct a poll, which revealed key insights into public attitudes toward such contracts on federally regulated online exchanges.
The Executive Director of Gambling is Not Investing said: “This polling confirms that unabated sports gambling on prediction markets is a growing concern across America.
“Prediction markets are trying to disguise their sports betting products as a financial investment, misleading Americans and dodging consumer safeguards like age requirements”.
The survey was conducted from 17 to 22 March, with more than 15,000 participants, and had a margin of error of plus/minus 1%.
The findings reveal that 8% of respondents believe that a prediction market, which enables betting on the outcome of sporting events, is gambling. Another 73% said that labelling bets as event contracts, swaps, or futures creates a lack of understanding of the risks involved for traders.
The survey result was published during a time when many states in the US were arguing that they should retain their legitimate power to regulate gaming activities. Even the states that have legalized sports betting have filed suit against prediction market operators.
For more details, Read Here!
Earlier this month, the Gambling is Not Investing campaign commissioned Morning Consult to conduct a poll, which revealed key insights into public attitudes toward such contracts on federally regulated online exchanges.
The Executive Director of Gambling is Not Investing said: “This polling confirms that unabated sports gambling on prediction markets is a growing concern across America.
“Prediction markets are trying to disguise their sports betting products as a financial investment, misleading Americans and dodging consumer safeguards like age requirements”.
The survey was conducted from 17 to 22 March, with more than 15,000 participants, and had a margin of error of plus/minus 1%.
The findings reveal that 8% of respondents believe that a prediction market, which enables betting on the outcome of sporting events, is gambling. Another 73% said that labelling bets as event contracts, swaps, or futures creates a lack of understanding of the risks involved for traders.
The survey result was published during a time when many states in the US were arguing that they should retain their legitimate power to regulate gaming activities. Even the states that have legalized sports betting have filed suit against prediction market operators.
For more details, Read Here!
