Five Democratic lawmakers have sent letters to sports betting and prediction market CEOs, accusing the companies of using aggressive advertising to pull young adults into online wagering. The May 11 letter was sent to Bet365, Polymarket, BetMGM, FanDuel, Fanatics, Kalshi, Caesars, DraftKings, Robinhood and SidePrize. The lawmakers asked for written answers and a staff briefing by May 29.
The letter targets ads aimed at young users
The letter was signed by Reps. Valerie Foushee, Paul Tonko, Betty McCollum and Kevin Mullin, along with Sen. Richard Blumenthal. It says online gambling, casino-style games and prediction contracts are disrupting young Americans through constant access and advertising.
Prediction markets received much of the attention. The lawmakers cited Kalshi’s “trade on anything” messaging and a TikTok ad that presented a rent-related win as a financial fix. They also pointed to prediction market partnerships with CNN, CNBC, Dow Jones and Yahoo Finance.
Sportsbooks were included in the same criticism. The letter names Bet365’s “Winning Is Everything” campaign and March Madness promotions from DraftKings, FanDuel, BetMGM, Caesars and Fanatics.
Lawmakers ask for user and revenue data
The companies were asked to disclose any regulatory actions, fines or settlements tied to underage access, advertising or consumer protection. The lawmakers also want details on corrective measures.
The letter asks what share of active users are between 18 and 20, how much revenue comes from users aged 18 to 24 and how those figures have changed over the past three years. It also seeks data on deposits, losses and session length by age group.
The companies were also asked how they target promotional deals and what internal rules govern ads on platforms with large under-21 audiences, including TikTok.
Prediction markets face more legal pressure
The letter comes as prediction markets face court fights and state challenges over sports contracts. Several states have moved against platforms including Kalshi, arguing that sports event contracts fall under gambling law rather than only federal commodities oversight.
The same lawmakers framed sportsbooks and prediction markets as part of one consumer risk. Some companies have added or discussed stronger age checks, family accounts and problem gambling self-assessments, but the letter says those steps do not go far enough.
