But, as we’ve seen since the start of the year, some Republicans are starting to break ranks, even as the CFTC says it will sue any state that tries to regulate prediction markets. The governors of New Jersey, Utah, and Nevada all seem pretty prepared to fight all of this in court, because prediction markets directly undermine the gambling taxes they collect from regulated sports books. There’s a host of other critics as well, all armed with different regulatory levels that might stop these markets in their tracks.
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