Former CFTC and SEC Chair Gary Gensler joins ‘Closing Bell Overtime’ to talk about his Supreme Court Amicus Brief related to sports betting regulation. Saying the Administration’s and Kalshi’s position is ‘frankly absurd’ that in response to the 2008 Financial Crisis, Congress made the CFTC the nation’s sports betting regulator.
Not once in the 54 times Gary testified to Congress in the years after the financial crisis did anyone mention sports betting.
It’s a matter of common sense, he says, that then Senate Majority Leader, Harry Reid of Nevada — who’s first job in politics was as Chairman of the Nevada Gaming Commision — “would have thrown me out of his office if I had said, ‘could you just transfer your Nevada gaming Commission authority over to this small federal agency I’m honored to Chair?’”
‘Trump Admin’s and Kalshi’s position on gambling regulation is ‘frankly absurd’: fmr. SEC Chair’ 4:24