IGA Leaders Urge Tribal Unity Against Prediction Markets at USET Annual Meeting

Indian Gaming Association Chairman David Z. Bean and Executive Director Jason Giles joined tribal leaders at the United South and Eastern Tribes and USET Sovereignty Protection Fund Annual Board of Directors Meetings on October 27, 2026. They participated in a panel titled “Prediction Markets: Defending Tribal Sovereignty and Economies from Threats Posed by Illegal Gambling,” which also included Mohegan Tribe Vice-Chairwoman Sarah Harris and Allison Binney, partner at Allison Binney Law. The meetings ran October 26–29 in Williamsburg, Virginia, hosted by USET member Mid-Atlantic Tribal Nations.

Bean and Giles called for a united defense of tribal sovereignty against sports wagering offered through prediction markets, which the IGA maintains constitutes illegal gambling. Panelists examined companies offering sports wagers as “event contracts” under claimed federal authority through the Commodity Futures Trading Commission. The IGA holds that these products cannot bypass tribal and state gaming laws or undermine the Indian Gaming Regulatory Act and tribal-state compacts. These sovereignty concerns apply to tribal nations whether or not they currently offer sports wagering.

Economic Projections and Consumer Protection Issues

Giles outlined findings from an IGA-commissioned study presented the previous week at the National Congress of American Indians. The study projects about $1.5 billion in annual losses to Indian gaming under a scenario of continued prediction market sports betting, with losses potentially growing over time. “If you start shaving off a billion and a half a year, your losses get really significant, and that’s just with the sports bet,” said Giles. He also warned of additional risks if prediction markets expand into casino-style wagering.

The panel further addressed consumer protection, problem gambling, and marketing to young people. Participants noted that tribal communities could bear the consequences of increased gambling activity while losing revenue that supports government services and local employment.

Calls for Congressional Action

Bean emphasized the need for tribes to educate Congress and demand accountability. “We’re here to protect tribal sovereignty. We’re here to protect our communities. We’re here to protect our children,” said Bean. He added, “We shouldn’t have to show a negative impact for Congress to take action and to enforce the law.” Bean urged congressional hearings to examine prediction market operators and federal oversight. As reported by Indian Gaming, the IGA will continue coordinated legislative advocacy alongside tribal nations and partner organizations as litigation and policy debates proceed.