GUEST COLUMN, Dan Dikin, Wichita cigar lounge operator
Over the past six months, my phone and social media feeds have been flooded with ads inviting me to bet on real-life events. At first, I didn’t think much of it. Sports betting has been legal in Kansas for a few years now, and as a Chiefs fan, I’ve even placed a wager or two myself.
But these new ads seemed different. After I did some digging, I realized they weren’t coming from sports betting platforms at all. They were actually from “prediction market” platforms that let people bet on everything from whether it will rain next Tuesday to who will win the Sunflower Showdown. But if I’m honest, if I didn’t take the time to do the research, I wouldn’t have known the difference. They looked and felt like ads for sports bets.
Unlike our state’s regulated sportsbooks, these prediction markets are skirting Kansas law. They don’t pay state taxes, they don’t contribute to the programs that help those struggling with gambling addiction, and they don’t follow the same responsible gaming standards that Kansas put in place. Instead, they are technically overseen by a federal agency in Washington, D.C., the Commodity Futures Trading Commission (CFTC). But how does that make sense? Why should bureaucrats in Washington be regulating gambling activity that affects our communities right here in Kansas?
I’m concerned about what this means for our state. Kansas lawmakers worked hard to create a safe, responsible, and transparent sports betting system, one that keeps the fun of gaming within reasonable bounds and ensures the benefits stay here at home. Prediction markets undermine all of that. It’s time for our state leaders to take a closer look and make sure that gambling in Kansas remains just that — in Kansas, under Kansas law, and accountable to Kansas taxpayers.
