· Judiciary Insight · Senate · 1 min read
Brian Schatz Says Prediction Markets Look Like Gambling
Full context
Sen. Brian Schatz compared sports prediction markets with traditional sports betting during an August 4, 2026, Senate Committee on Indian Affairs roundtable.
Schatz said policymakers can become so focused on technical distinctions that they overlook how consumers actually experience the products. He compared prediction-market apps with sportsbooks such as FanDuel and MGM and said they can offer effectively the same wager.
As an example, Schatz said a consumer who wants to bet on the Philadelphia 76ers winning the NBA championship could do so through either a gambling app or a prediction-market app. He concluded that the consumer experience was exactly the same and said the product looked like gambling to him.
Read the committee’s roundtable page.
