Congress increases SCRUTINY into prediction markets

Congress is intensifying its scrutiny of sports gambling and prediction markets amid a wave of scandals in professional and collegiate sports that have raised concerns about the integrity of sports.

A subcommittee of the Senate Commerce, Science and Transportation Committee held a hearing on Wednesday focusing on the role sports betting has played in athletics and whether Congress or federal agencies need to ramp up regulations around online wagering as more states legalize it and new products gain popularity.

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