AGA Brings Ex-NJ Governor Chris Christie to Fight Prediction Markets

The American Gaming Association (AGA) is sounding a call to arms, as the onslaught of prediction markets in the United States continues. 

The trade group has criticized the expansion of the sector over the past months, and even fell out with FanDuel, DraftKings, and Fanatics, three of its most prominent members, who chose to quit the association over the disagreement.

Getting All the Help They Can Muster 

Now, AGA is strengthening its political capital with the appointment of former New Jersey Gov. Chris Christie, who has joined the trade group to help it spearhead the offense against the sector.

Christie is an important ally, as he helped push the Murphy v. National College Athletic Association, the overturning of PASPA, and the legalization of sports gambling in the United States. His past credentials are not necessarily going to help AGA stem the tide of prediction markets, but they don’t hurt either. 

AGA’s appointment of Christie has to do with an advisory role, with the man already airing his views publicly on what he thinks of prediction markets. During a CNBC appearance, Christie called the sector illegal, particularly when they concerns sports. 

This view is upheld by gambling regulators all over the United States, with numerous watchdogs challenging platforms such as Kalshi in the courts. Coinbase, and Kalshi, for that matter, have been no less litigious, launching counter-offensives of their own. 

“They’re illegal. They are clearly illegal in the sports betting space, and here’s why: The Supreme Court turned this over to the states to do, and the fact is, doing it through the states gives you two things. One, it gives availability to people. Two, in a regulated market,” Christie said. 

Prediction Markets Are Coming Under Increasing Pressure and Scrutiny

Christie argued that the way prediction markets offered sports event contracts was hurting the regulated gambling sector, as well as the prospects of the remaining states to regulate the activity. 

Prediction market platforms, for their part, have vehemently insisted that they are regulated under the Commodity Futures Trading Commission (CFTC) and not beholden to local state laws, further adding that their product was simply “superior.”

Christie and AGA, though, have repeatedly disagreed, as they have argued that such platforms purposefully emulate sports betting platforms to create a relatable product. For his part, Christie is determined to help push back against the onslaught of prediction market platforms.