WASHINGTON, D.C., September 15, 2026 — During Monday’s Commodity Futures Trading Commission (CFTC) private, invitation-only roundtable, the National Congress of American Indians (NCAI), the Indian Gaming Association (IGA), and other regional Tribal organizations reiterated that sports-event contracts offered by prediction market platforms are illegal gaming and cannot evade federal, state, and Tribal gaming laws simply by being mislabeled financial products. These organizations furthermore emphasized three principles that must guide the CFTC’s work going forward.

First, sports-event contracts are illegal gaming. A sports wager does not become a lawful financial instrument simply because it is called an “event contract.” The CFTC’s own regulations prohibit event contracts involving gaming and activities that are unlawful under state or federal law. IGA has also previously stated that sports-event contracts violate the Indian Gaming Regulatory Act (IGRA) and the federal Wire Act and are being offered in disregard of state gaming laws and Tribal sovereignty. Calling sports betting a “prediction market” does not change what it is: gaming.

Second, federal decisions affecting Tribal gaming and sovereignty require meaningful government-to-government consultation with Tribal Nations. These issues directly implicate IGRA, Tribal-state compacts, Tribal regulatory authority, and the sovereign interests of Tribal governments. Indian Country must be consulted before federal policy is developed or implemented, not simply asked to respond after decisions have been made. Meeting with Tribal organizations, though appreciated, does not constitute consultation with Tribal Nations.

Third, Monday’s roundtable must mark the beginning of deeper engagement with Indian Country. A single roundtable cannot resolve the substantial legal, sovereignty, regulatory, and economic questions raised by prediction markets. NCAI and IGA expect continued dialogue and formal consultation as CFTC considers any rulemaking, guidance, enforcement policy, or other action involving sports-event contracts and gaming.

NCAI President Mark Macarro said, “While we acknowledge the effort that Chairman Selig took to convene Monday’s discussion, to be candid: a roundtable is not consultation. What Tribal Nations require — and what federal law mandates — is government-to-government consultation, not a listening session. The roundtable fell well short of that standard. Tribal Nations deserve a seat at the table when policies directly impact their sovereignty, jurisdiction, economies, and abilities to provide critical services to Tribal citizens.”

Indian Gaming Association Chairman David Z. Bean said, “The CFTC roundtable will go down as a missed opportunity for constructive dialogue with Tribal Nations. The CFTC would not explain how sports betting became legal across the country, simply because a prediction market calls it an event contract. These products are gaming, and where they are being offered outside federal, state, and Tribal gaming law, they are illegal gaming. The CFTC must enforce the law as written and work directly with Tribal Nations before moving forward with policies that could undermine IGRA and Tribal-state compacts.”

Although not a participant in Monday’s roundtable, New Jersey Attorney General Jennifer Davenport issued a statement in support of Tribal leaders' position, saying, "Prediction markets offer sports gambling without following our laws, expressly flouting the authority of States and Tribes alike. We will continue to stand shoulder to shoulder with Tribes and a bipartisan coalition of States in opposing the lawless conduct of prediction markets and protecting our residents from the threat their business model poses."

NCAI and IGA said they will continue engaging with the CFTC and other federal officials to ensure that existing gaming laws are enforced, Tribal sovereignty is respected, and Tribal Nations are fully consulted on federal actions affecting Indian gaming.

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About the National Congress of American Indians:

Founded in 1944, the National Congress of American Indians is the oldest, largest, and most representative American Indian and Alaska Native organization in the country. NCAI advocates on behalf of Tribal governments and communities, promoting strong Tribal-federal government-to-government policies and a better understanding among the general public of American Indian and Alaska Native governments, people, and rights. For more information, visit www.ncai.org.

About the Indian Gaming Association

The Indian Gaming Association is a 501(C)(6) non-profit association representing Tribal Nations across the country. The mission of IGA is to protect Tribal sovereignty and foster Tribal economic development and self-sufficiency.