A new survey highlights growing public concern over prediction markets offering contracts on sports events. Morning Consult polled 15,029 US adults from March 17–22, finding widespread agreement that these platforms function as gambling and should fall under state regulation.
Most Americans Equate Sports Contracts With Gambling
The survey, commissioned by the anti-prediction market group Gambling Is Not Investing, shows that 81% of respondents consider sports-related contracts gambling. An equal share believes such markets should be regulated and taxed at the state level.
Mick Mulvaney, 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.”
He added, “Let’s face it, if it quacks like a duck, it’s sports betting.”
Concerns also extend to younger players: 77% worry that allowing 18-year-olds to participate could increase problem gambling, and 73% said financialized terms like “swaps” or “futures” obscure risk, particularly for novices.
Limited Faith In Federal Oversight
Only 29% of respondents trust the Commodity Futures Trading Commission (CFTC) to regulate sports contracts effectively. Meanwhile, 81% support state-level protections such as age limits and responsible gambling requirements. Confidence in platform safeguards is low: just 34% believe prediction markets offer protections comparable to state sportsbooks, while 49% trust them to prevent insider trading. Over half (56%) see the risk as equivalent to betting at a licensed sportsbook, and 78% want operators to pay the same state taxes as traditional sportsbooks.
Growing Activity Despite Scrutiny
Prediction market trading has surged, with one platform reportedly handling over $800 million during the NCAA Tournament’s opening weekend. Major sportsbooks, including DraftKings, FanDuel, and Fanatics, have also joined the market to serve states without legalized sports betting. DraftKings CEO Jason Robins said, “We are targeting hundreds of millions in annual revenue for DraftKings predictions in the years ahead. This should translate to meaningful, incremental, adjusted EBITDA. In predictions, we have the playbook to execute and win.”
Sports leagues are beginning to engage. The NFL asked operators to avoid contracts tied to easily manipulated events or outcomes known in advance. Executive VP Jeff Miller explained: “Some people are going to have that information … that they can then share. We’re trying to stay as far as we can from some of those sorts of inside information wagers that could exist in this space.”
Legal And Legislative Measures
States including Nevada and Massachusetts have restricted certain prediction market offerings through court rulings. On Capitol Hill, bipartisan legislation aims to limit sports-like contracts and curb insider trading.
Sen. John Curtis (R-Utah) said, “Our bipartisan legislation clarifies regulatory jurisdiction, ensuring that states can maintain their authority over sports betting and casino gaming. The Prediction Markets Are Gambling Act is about respecting states’ authority, protecting families, and keeping speculative financial products out of spaces where they don’t belong.”
Source:
“Morning Consult Poll: Prediction Markets Are Gambling, Should Be States’ Purview“, yahoo.com, March 30, 2026
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