Senate Hearing on Sports Betting Scheduled for December 17
A Senate Judiciary Committee hearing on sports betting is set for December 17, 2024. The agenda includes discussions on the SAFE Bet Act and allegations of anticompetitive practices by FanDuel and DraftKings.
What Will the Hearing Cover?
On Tuesday, December 17, 2024, the U.S. Senate will hold a hearing on the legalization of sports betting. Titled “America’s High-Stakes Bet on Legalized Sports Gambling,” it marks only the second Senate hearing on sports betting since the repeal of PASPA in 2018. This hearing has been scheduled for the final week before the Senate’s winter recess.
The hearing is expected to focus on the SAFE Bet Act (Supporting Affordability & Fairness with Every Bet Act), a bill introduced earlier this year by Senator Richard Blumenthal (D-CT). The proposed legislation aims to address gambling addiction and related harms by establishing federal minimum standards for operator marketing practices and the use of AI.
The hearing also comes amid broader efforts to tighten regulations on sports betting in the U.S., including concerns about the market practices of industry leaders FanDuel and DraftKings. Senators Mike Lee (R-UT) and Peter Welch (D-VT), both members of the Judiciary Committee, have recently raised concerns about alleged anticompetitive behavior by these companies.
What Else Do We Know About the Senate Hearing?
The primary goal of the hearing is to gather information on the impact of legalized sports betting in the U.S. and to assess the current state of the industry.
Key areas of discussion are likely to include the potential benefits and risks of sports betting, as well as the need for federal regulations to establish standards for operators. Additionally, the hearing may delve into allegations of antitrust violations by FanDuel and DraftKings, examining the claims raised by Senators Mike Lee and Peter Welch.
The Judiciary Committee is composed of 21 senators, 12 of whom represent states where sports betting is legal. The committee is chaired by Senator Dick Durbin (D-IL). Notable members include:
- Senator Richard Blumenthal, co-author of the SAFE Bet Act.
- Senators Mike Lee and Peter Welch, who have called for investigations into anticompetitive practices by market leaders.
- Senator Marsha Blackburn (R-TN), who has expressed concerns about match-fixing in amateur sports.
- Senators Sheldon Whitehouse (D-RI) and Tom Cotton (R-AR), both known for their critical views on gambling.
As of now, the list of witnesses for the hearing has not been released.
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