This week is bustling in the U.S. gambling sector, with legislative deadlines, NBA playoff betting, and the growth of prediction market lawsuits taking center stage.
In Iowa and Tennessee, legislative deadlines are putting pressure on several gambling bills, while other proposals may gain traction this week. Concurrently, the NBA playoffs are intensifying betting activities and attracting attention to prediction markets amidst ongoing legal disputes.
Legislative Deadlines in Iowa and Tennessee
The Iowa legislature is set to adjourn on April 21, leaving little time to address SF 2289, a bill aimed at enhancing enforcement mechanisms that could affect sweepstakes casinos. Having passed the Senate in late February, the bill is now in the House Ways and Means Committee, which has yet to schedule a hearing before the impending deadline.
Additionally, SF 2494, which seeks to prevent state employees from engaging in government or legislative prediction markets, is making progress in the Senate but still requires approval from both chambers before April 21.
In Tennessee, lawmakers are racing against the clock to finalize legislation regarding sweepstakes casinos and prediction markets before the session ends on April 24. HB 1885, which bans online sweepstakes games utilizing virtual currency, is scheduled for a hearing this week after moving to the House floor.
Another bill, HB 2079, focusing on prediction markets, is also awaiting a vote in the House, with a tight timeline for Senate approval.
Potential Advancements in Other States
In Louisiana, two bills targeting sweepstakes casinos are poised for further progress. HB 883, which explicitly bans such platforms, has passed the House and is now pending action in the Senate. Meanwhile, HB 53, which employs racketeering laws against illegal gambling, has moved forward from a Senate committee.
Oklahoma’s SB 1589, which revises the state’s gambling laws to include online casino-style offerings, is likely to be voted on in the House after passing the Senate and two committees.
In Minnesota, legislators are also working on bills addressing sweepstakes casinos and prediction markets, with SF 4511 and SF 4474 awaiting consideration in the Senate Finance Committee.
Focus on NBA Playoffs and Prediction Markets
The commencement of the NBA playoffs is expected to further elevate betting activity, drawing attention to the evolving landscape of prediction markets.