TO: Indian Gaming Association Member Tribes and Associate Members FROM: David Z. Bean, Chairman Jason Giles, Executive Director RE: Model Comments – CFTC Advance Notice of Proposed Rulemaking Related to Prediction Markets Date: July 23, 2026

On June 12, 2026, the Commodity Futures Trading Commission (“CFTC”) published an Notice of Proposed Rulemaking (“NOPR”) seeking public comment on matters affecting potential CFTC regulations that would apply to event contract derivatives traded on prediction markets. In particular, the Commission is proposing amendments to further specify the types of event contracts that may be subject to a determination that they are contrary to the public interest, such that they may not be listed for trading or accepted for clearing on or through a CFTC-registered entity, as provided in the Commodity Exchange Act (CEA). The proposed amendments set out factors the Commission would apply in that determination and conform the process by which the determination would be made to the CEA. The Commission also is proposing amendments to the procedure for the Commission’s determination to enhance clarity and organization, as well as a definition of the term “gaming” and a rule regarding when event contracts “involve” an underlying activity. This NOPR follows years of uncertainty due to the CFTC’s inaction on prediction markets offering sports-related events contracts or, as this concept is more informally known, unregulated sports betting. 

The Indian Gaming Association (“IGA”) is not convinced the CFTC is acting in the best of interests of Tribal nations or that any proposed regulation resulting from this Notice of Proposed Rulemaking will address the rapid expansion of unregulated sports betting and trampling of Tribal and State sovereignty. The Indian Gaming Association prepared the attached model comments for Tribes to use and modify as needed.

The deadline to provide written comments on this issue is July 27, 2026.

Comments may be submitted in the following manner:

You may submit comments, identified by “Prediction Markets; Public Interest Determinations” and RIN 3038-AF65, by any of the following methods:

• Regulations.gov.  Go to https://www.regulations.gov and press the “Search” button, then proceed as follows:

1. Under Refine Documents Results—check the box to “Only show documents open for comment”;
2. Under Agency—select “See More” and check the box for “Commodity Futures Trading Commission,” then press the Apply button;
3. Identify this proposal in the list of CFTC documents open for comment, press the “Comment” button to open the submission form, and follow the instructions on the form.

Alternatively, if you are viewing this proposal on www.federalregister.gov, click the “Submit A Public Comment” button at the top of the page to open the comment form. Follow the instructions on the form to submit your comment to Regulations.gov. 

• Mail: Send to Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581.
• Hand Delivery/Courier: Address to—CFTC Comment Submission, Attn: Christopher Kirkpatrick, Secretary of the Commission, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street NW, Washington, DC 20581.

The notice of proposed rulemaking as it appears in the Federal Register may be found here: https://www.federalregister.gov/documents/2026/06/12/2026-11854/prediction-markets-public-interest-determinations

Please contact Danielle Her Many Horses at dhermanyhorses@indiangaming.org with any questions or concerns with this alert.    

Comments Response Sample Word Letter Attached.