| Indian Gaming Association release
WILLIAMSBURG, Va. – Indian Gaming Association (IGA) Chairman David Z. Bean and Executive Director Jason Giles joined Tribal leaders at the United South and Eastern Tribes (USET) and USET Sovereignty Protection Fund (USET SPF) Annual Board of Directors Meetings on Oct. 27, calling for a united defense of Tribal sovereignty and economies against sports wagering offered through prediction markets that IGA maintains constitutes illegal gambling.
The panel, “Prediction Markets: Defending Tribal Sovereignty and Economies from Threats Posed by Illegal Gambling,” also featured Mohegan Tribe Vice-Chairwoman Sarah Harris and Allison Binney, partner at Allison Binney Law. Hosted by USET member Mid-Atlantic Tribal Nations, the annual meetings are being held Oct. 26–29 in Williamsburg, Va.
“We’re here to protect Tribal sovereignty. We’re here to protect our communities. We’re here to protect our children,” said Chairman Bean. He emphasized that Tribal Nations must continue working together to educate Congress and demand accountability for prediction market operations that threaten Tribal authority.
Panelists discussed the implications of companies offering sports wagers as “event contracts” under claimed federal authority through the Commodity Futures Trading Commission (CFTC). IGA’s position is that these products cannot be used to bypass Tribal and state gaming laws or undermine the protections of the Indian Gaming Regulatory Act and Tribal-State compacts. The discussion underscored that the sovereignty concerns extend to Tribal Nations regardless of whether they currently offer sports wagering or operate gaming facilities.
Chairman Bean urged Congress to act before Tribal communities suffer further harm, emphasizing that growth in regulated Indian gaming does not diminish the need to address the threat.
“We shouldn’t have to show a negative impact for Congress to take action and to enforce the law,” Bean said.
Giles outlined the potential economic consequences, describing an IGA-commissioned study presented to Indian Country at the National Congress of American Indians the previous week. He said a scenario involving continued prediction market sports betting projected about $1.5 billion in annual losses to Indian gaming, with losses potentially growing over time. He also warned of additional risks if prediction markets expand into casino-style wagering.
“If you start shaving off a billion and a half a year, your losses get really significant, and that’s just with the sports bet,” Giles said.
The panel also addressed consumer protection, problem gambling and concerns about marketing wagering products to young people. Participants stressed that Tribal communities could face the consequences of increased gambling activity while losing revenue that supports Tribal government services and local employment.
Bean and Giles emphasized the importance of coordinated legislative advocacy and continued engagement with Tribal leaders as litigation and federal policy debates develop. Bean called for congressional hearings to examine the conduct of prediction market operators and federal oversight. IGA will continue working alongside Tribal Nations and partner organizations to press Congress to protect Tribal authority and the economies that sustain Indian Country. |
