When Mississippi legalized sports betting in 2018, we took a smart, responsible approach. Our state lawmakers set and follow strict rules, our Gaming Commission keeps a close eye on operations, and our casinos and sportsbooks give back to the communities where they do business. That’s how it should be. Local regulators here in Mississippi know what is best for our state, and this framework allows a fair deal for everyone involved.
Now, a federal agency in Washington is encroaching on our territory. The Commodity Futures Trading Commission, or CFTC, has already allowed companies to oversee a new type of wagering platform, known as “prediction markets.” These markets let people place bets on the outcomes of sports and other events. Proponents will tell you that prediction markets are similar to other financial markets, allowing users to invest in future outcomes. But make no mistake, when you put money on a football team to win a game, that's not a financial tool; that’s sports betting, plain and simple.
The difference is that Mississippi regulates its sportsbooks with rules designed to protect players, promote responsible gambling, and make sure the state and local communities benefit. These new markets don’t follow those same rules. They don’t support problem gaming programs, and they don’t contribute to the state resources that help people when gambling becomes a problem.
In Mississippi, the money that comes from regulated sports betting – nearly $43 million in tax revenue to date – supports jobs, tourism, and funding for important state programs. It also ensures betting stays safe and fair and supports our responsible gaming efforts such as programs that educate players and offer help for those who need it. Those efforts are funded by regulated, licensed sportsbooks that follow Mississippi law and are proud to do business here.
Prediction markets, on the other hand, operate under federal approval but outside our state system. That means they can attract players without paying state taxes, without being subject to state regulations, and without giving anything back to Mississippi. It’s an unfair system that puts our regulated operators at a disadvantage and takes money away from the programs that help people here at home.
The CFTC wasn’t created to oversee sports or gaming. It was built to regulate industries and commodities like oil, gas, and agriculture. The folks at that agency don’t understand the hard work that’s been done in Mississippi to make gaming responsible and safe, and they shouldn’t be allowed to undo it. The CFTC focus needs to be focused on the price of a barrel of oil and a bushel of corn, not who will win the Super Bowl.
Mississippi has demonstrated that when gaming is regulated by the state, as mandated by the Supreme Court in 2018, it can be both safe and successful. This approach respects local values, protects players, and keeps decision-making where it belongs.
Washington doesn’t need to step in. The CFTC should focus on its core responsibilities and leave gaming regulation to the states, which are better equipped to handle it effectively.
At the end of the day, this is just about common sense. We built a system that works for Mississippi, that supports our communities, and that keeps gaming responsible. We don’t need a federal agency trying to change that.
Mississippi has it under control. Let’s keep it that way.
Steven Carter is a lifelong Mississippian.
