Regulations News

2 May 2026

Consumer credit health hit hard by gambling, NY Fed report says

Consumer credit health hit hard by gambling, NY Fed report says

A recent staff report by the New York Fed is highlighting the impact of gambling on consumer credit health, with concerns it is leading to financial instability in the average American household. Using anonymized transaction-level consumer spending data, it found: “Following legalization, delinquency rose steadily in legal counties.”

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Sports betting on prediction markets to be banned under new legislation

Bipartisan bill to ban sports betting on prediction market platforms

Senators Adam Schiff (D., Calif.) and Sen. John Curtis (R., Utah) have worked across the aisle to introduce legislation banning sports event contracts on prediction market platforms. The Prediction Markets Are Gambling Act would amend federal law so “sports and casino-style event contracts” may not be offered on platforms regulated by the CFTC.

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