In Georgia, we cherish our states’ rights − the bedrock of our democracy. And in our state, sports betting is currently prohibited. It’s a decision that is debated by our legislators, that are held accountable by our voters, but with the integration of prediction market platforms, that choice is somehow no longer ours to make.
The Commodity Futures Trading Commission (CFTC) has permitted prediction market platforms to offer contracts tied to sports outcomes, classifying them as financial derivatives rather than gambling. This distinction allows these operations to flourish nationwide, including in Georgia, without any state oversight or consumer protections.
As former mayor of Augusta and a state legislator, I have championed transparent, properly regulated enterprises that contribute to our communities. It is unacceptable that these platforms can bypass our laws entirely, exposing Georgians to unchecked risks while generating profits untethered from local responsibility…