Jordan Maynard, the Chair of the Massachusetts Gaming Commission (MGC), has expressed serious concerns regarding the increasing risks associated with the expanding U.S. gambling market. He specifically pointed out the dangers of advertising and youth exposure on unregulated platforms, particularly prediction markets, as significant issues that need to be addressed.
During an interview on WCVB’s “On the Record,” Maynard discussed the Commission’s strategies for tackling problem gambling while emphasizing the challenges posed by emerging products that operate outside the traditional regulatory frameworks.
When questioned about the Commission's efforts to combat gambling-related issues, Maynard highlighted the state’s pioneering initiatives aimed at minimizing gambling harm. He noted that Massachusetts is unique in having a dedicated team focused solely on responsible gaming, which is recognized internationally.
The state's responsible gaming measures include:
- Limits on deposits, time spent, and budgeting.
- A statewide voluntary self-exclusion system that encompasses casinos, sportsbooks, and racetracks.
- Restrictions on direct marketing to individuals who have opted for self-exclusion.
Maynard also mentioned that the MGC was the first to mandate age limit labels on gambling advertisements across various venues. Recently, Massachusetts became the first state to require operators to notify bettors of any limits within 48 hours, along with an explanation for these limits and the markets affected.
Last year, the MGC took action against DraftKings, imposing a state-record fine of $450,000 for not blocking credit card deposits, which led to the operator’s decision to halt credit card transactions nationwide.
Despite these efforts, Maynard raised alarms about illegal and unregulated platforms, such as prediction markets, which he believes significantly expose youth to gambling. He pointed out that while the legal market has robust protections, illegal platforms specifically target individuals under 21 years old.
Prediction markets operate under federal derivatives laws, allowing users over 18 to participate, unlike the 21+ age requirement for regulated sportsbooks and casinos. Reports indicate that these markets are gaining popularity among younger audiences.
Concerns have also been raised about potential insider trading related to celebrity appearances during Super Bowl halftime shows at colleges, with suggestions that individuals connected to the celebrities might be leaking information.
Platforms like Kalshi and Polymarket have been noted for their active promotion on social media, including TikTok and Instagram, often utilizing paid content creators and engaging with college campuses.
Massachusetts has taken steps to address prediction markets, being the first state to secure a court ruling that prevents Kalshi from offering contracts for sports-related events, although the operator has since obtained a stay to continue operations during ongoing litigation.
Maynard has voiced his support for the lawsuit, arguing that prediction markets contribute to illegal sports betting.
In response to the issue of underage gambling on unregulated platforms, Maynard announced that the MGC will collaborate with BetBlocker, a software tool designed to block gambling access.