It’s rare that Kansas Republicans on different ends of the party spectrum agree on much, but I found myself nodding along to Rep. Bill Sutton’s Nov. 20 Heartlander article about prediction markets and local control.
As a legislator, I voted to allow casinos in Kansas. Later, as a communications consultant, my legislative clients spearheaded the establishment of sports betting in the state.
Over the years, Kansas has been diligent in its regulation of gaming. The consistency of a framework developed by government and industry stakeholders has benefited both.
Sports betting and online gaming have exploded in recent years, and Kansas’ framework has kept pace. But new prediction markets are trying to bypass the hard-fought rules that protect Kansans by seeking a one-size-fits-all federal regulatory structure.
These platforms want to be regulated by the Commodity Futures Trading Commission (CFTC), knowing that enforcement would be much laxer.
Kansans know a commodity when we see one, and Taylor Swift’s choice of an ivory, champagne or pure white dress isn’t one. (Though if you’re asking, I’m rooting for ivory, and then a rainbow of shades for the afterparty!)
Allowing a certain set of rules for one type of gaming and a different set for all other types undermines the delicate balance of the law.
These prediction markets aren’t licensed by the state, don’t have to follow our rules and aren’t subject to the consumer protection bulwarks in place to protect Kansans.
It doesn’t pass the smell test.
Kansas lawmakers should explicitly clarify that prediction markets are gambling products subject to state gaming regulations. Reinforcing the state’s authority would protect consumers, preserve state revenue and reaffirm Kansas’ right to set its own policy.
Kansans expect a transparent and accountable gaming system that reflects the will of their communities, not Washington.
Every dollar wagered through a platform that bypasses Kansas law is a dollar that doesn’t support our communities.
Stephanie Sharp is a former Kansas House of Representatives member who represented District 17 in Johnson County from 2003 to 2008.
