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CNBC

'Sweepstakes gaming' faces bans in states

CNBC · New
CNBC
CNBC
New

CNBC's Contessa Brewer reports on the growing interest in gambling.

BreakdownGenerated by LeadStory AI
  • Sweepstakes gaming is expanding, allowing real-money play in casino-style games and sports wagering. 23s
  • Over a dozen states have issued cease and desist letters, with six banning sweepstakes gaming and eleven proposing bans. 34s
  • California advanced a bill to ban sweepstakes gaming and its attorney general called daily fantasy sports illegal gambling, though this is disputed. 51s
  • Prediction markets are under legal review, with companies claiming federal oversight exempts them from state gambling laws. 1m 33s
  • Major sports leagues and the American Gaming Association warn that unregulated prediction markets could harm consumers and sports integrity. 2m 35s
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