Lawmakers Propose Federal Regulations on Sports Betting

Senators Richard Blumenthal and Representative Paul Tonko have introduced the Supporting Affordability and Fairness with Every Bet Act (SAFE Bet Act) to establish federal regulations on sports betting, which has surged in popularity across the U.S. since the Supreme Court's 2018 ruling that allowed states to legalize it. The bill aims to create minimum federal standards for sports betting operators, including limits on advertising, deposit restrictions, and affordability checks for bettors. It seeks to prohibit promotional activities during certain hours and ban the use of credit cards for deposits. Both lawmakers have raised concerns about the gambling industry's targeting of vulnerable individuals and the pervasive nature of betting advertisements. If passed, the legislation would require states to undergo a new regulatory process overseen by the Justice Department, emphasizing the need for a national standard over the current state-based system. The legislation reflects growing apprehension regarding gambling addiction and its societal impacts.