The American Gaming Association (AGA) has released a new study showing strong sentiment that sports event contracts offered through prediction markets—online platforms where users wager on the outcomes of future events—should be regulated in the same way as other forms of legal, state-regulated sports betting.

The study also shows that the public overwhelmingly view them as a form of gambling that requires oversight.

Americans overwhelmingly recognize sports event contracts as gambling, not financial instruments.85% say sports event contracts are most like gambling, while only 6% believe they are most like a financial instrument.

Most Americans want sports event contracts regulated like other forms of sports betting. 80% say that sports event contracts should be regulated like other online sports betting and 65% believe these bets should be overseen by state and tribal gaming regulators, not the federal Commodities Futures Trading Commission (CFTC).

Adults agree that sports event contracts should only be offered by state-licensed sportsbooks. 84% of Americans, and 69% of sports bettors, say that sports event contracts should only be available in state-licensed sportsbooks in the states where they are offered. 69% of Americans believe each state should have a say on whether sports event contracts can be offered in their state.

Americans recognize prediction platforms offering sports event contracts are skirting the law. 70% say prediction platforms offering sports event contracts are exploiting loopholes to act as unlicensed sportsbooks.