Kalshi’s Nevada Court Win May Be Short-Lived Due To Federal Wire Act Ban On Sports Betting
The post Kalshi’s Nevada Court Win May Be Short-Lived Due To Federal Wire Act Ban On Sports Betting appeared on BitcoinEthereumNews.com.
(Photo by Mario Hommes/DeFodi Images via Getty Images) DeFodi Images via Getty Images Congress isn’t shy when it comes to setting a clear federal policy on the divisive subject of sports gambling. In every instance, it has done so explicitly – starting with the Wire Act of 1961, which prohibits the interstate transmission of wagering information related to any “sporting event of contest” (a ban which is still in effect), and further exemplified by the Professional and Amateur Sports Protection Act of 1992, which, until its demise in 2018, prohibited state-authorized sports wagering. The Third Circuit referred to these laws as exemplifying a “federal policy of disfavoring sports-gambling.” Sports gambling is also specifically addressed in a number of other federal statutes, including the Sports Bribery Act, the Wagering Paraphernalia Act, and the Federal Wagering Tax Act. When Congress wants to address sports gambling, it barges in through the front door. No beating around the bush or reading between the lines on such an important subject. Indeed, as the Senate Judiciary Committee Report preceding PASPA’s passage proclaimed, “Sports gambling is a national problem.” Expressing concern “about the potential effect of legalized sports gambling on America’s youth” – and noting that of the “approximately 8 million compulsive gamblers in America, 1 million of them are under 20″ – the Committee stressed that “governments should not be in the business of encouraging people, especially young people, to gamble.” Play Puzzles & Games on Forbes An “Implied” Federal Regulation Of Sports Wagering? Against that backdrop, you can imagine my utter surprise to learn that more than 15 years ago – when PASPA was still in effect (and so, too, was the Wire Act) – Congress silently approved wagering on sporting events in all 50 states for any U.S. resident 18 years of age and…
Filed under: News - @ April 15, 2025 8:26 pm