Comment on CFTC-2026-0331, CFTC-2026-0331-0001, Brian, Harris
Brian HarrisOpposeAdvocacy
Summary: The Catawba Nation, a federally recognized Indian tribe, opposes the proposed rulemaking because it may implicitly legitimize unlawful sports betting on prediction markets. They argue that these markets violate tribal sovereignty, infringe on exclusive gaming rights, and lack the regulatory safeguards and economic purpose required for legitimate financial instruments.
The Catawba Nation (the "Nation" or Tribe ) hereby submits these comments in response to the Commodity Futures Trading Commission's ("CFTC") Advance Notice of Proposed Rulemaking ("ANPRM") regarding event contract derivatives traded on prediction markets. The Tribe is a federally recognized Indian tribe within the meaning of the Indian Gaming Regulatory Act ("IGRA"). The Tribe exercises sovereignty over its lands and citizens, and has the jurisdiction to conduct and regulate gaming activities on its Indian lands. The CFTC should uphold its regulatory responsibilities under the Commodity Exchange Act (the "CEA"), 7 U.S.C. 1 27(f), to stop prediction markets from conducting unlawful gaming, including so-called "sports-related event contracts", within the Tribe's jurisdiction. This gaming activity violates the Tribe's sovereignty as well as other federal laws, including IGRA. By seeking comments on the regulation of these sports-related event contracts, the CFTC presumes that such contracts are legal. They are not.
Please see attachment.