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State of Play’s TL;DR
- At a New Hampshire problem gambling summit, Chris Christie said prediction markets are operating as unlicensed betting companies.
- The former New Jersey governor urged state attorneys general to enforce their regulations.
Former New Jersey Gov. Chris Christie is urging state attorneys general to crack down on prediction markets, arguing that platforms such as Kalshi and Polymarket are operating as unlicensed betting companies.
Speaking Tuesday at the Granite State Summit on Problem Gambling at Southern New Hampshire University, Christie said those platforms are acting like sportsbooks without following the rules licensed operators face on age limits, taxes, and state oversight.
He specifically called on New Hampshire Attorney General John Formella and other state prosecutors to issue cease-and-desist orders.
Christie says prediction markets are sidestepping gambling rules
Christie said prediction markets are contributing to what he described as an expansion of gambling addiction, especially through mobile access.
“Here’s the truth. These are betting companies operating in New Hampshire as we speak in an unlicensed way.”
He also argued that licensed operators are held to standards prediction markets are avoiding. Christie said licensed gambling companies cannot legally do business with people under 21, while also paying state taxes. He pointed to New York’s 50% tax rate on licensed operators as part of that contrast.
His message to states was direct: Force the companies to get licensed or stop operating.
Christie reflects on sports betting and college wagering
Christie also used the speech to revisit New Jersey’s role in legal sports betting. He said the sports betting law he signed in 2011 only allowed bets at Atlantic City casinos. He said he did not anticipate how quickly wagering would move to smartphones.
According to Christie, the law then survived six years of legal challenges from professional sports leagues and the NCAA before the issue reached the Supreme Court.
Looking back, Christie said he would go further now than he did then.
“If I had to do it all over again, I would have gone further and not permitted sports betting on college athletics, period.”
Based on reporting by Kevin Landrigan for the New Hampshire Union Leader.
