Comment Text:
The Mohegan Tribe submits the attached comments to the CFTC regarding the Advance Notice of Proposed Rulemaking for Prediction Markets | RIN 3038-AF65. As explained in greater detail in the attached document, the Mohegan Tribe states that any regulation or guidance issued by the CFTC regarding prediction markets must:
1. Affirm that sports wagering has been regulated as “gaming” under other federal law for decades, including under the Indian Gaming Regulatory Act of 1988;
2. Preserve the distinct regulatory regime for gaming on Indian lands, including sports wagering;
3. Prohibit private companies from authorizing, conducting, and regulating
4. sports wagering and other forms of gaming on Indian lands in violation of tribal and federal law;
5. Prohibit private companies from authorizing, conducting, and regulating sports wagering and other forms of gaming within States in violation of State law;
6. Prohibit private companies from engaging in gaming, as defined in IGRA and associated regulations, on CFTC-regulated exchanges; and,
7. Prevent private companies from impairing and disregarding tribal-state gaming compacts entered into pursuant to IGRA.
Lastly, the Mohegan Tribe requests the CFTC to engage in government-to-government consultations with Indian tribes consistent with E.O. 13175 prior to the issuance of any proposed rule. As an agency of the Federal Government, the CFTC shares the United States’ trust obligation to protect and advance the interests of Indian tribes and to engage tribal governments directly on matters that affect their interests.
