Mormon Church Leader Warns Against Sports Betting, Prediction Markets

A leader from The Church of Jesus Christ of Latter-day Saints put out a warning over the weekend regarding gambling, including both traditional online gambling and prediction markets, which are bringing out greed among younger people and saying that they produce "nothing of value." 

According to D. Todd Christofferson, a top three leader of the Mormon church, these gambling platforms are taking time away from their studies and relationships as phones make gambling even more accessible. 

“For us as Latter-day Saints, overarching all other concerns is the fact that gambling is morally wrong. Gambling is built on the desire to obtain something for nothing,” Christofferson said at the faith’s twice-annual general conference.

Prediction Markets Draw Criticism From Church Leader

As a result, these religious figures are at odds with President Donald Trump. Trump's administration has said that platforms like Kalshi and Polymarket aren't gambling and shouldn't be subject to restrictions that are in place in Utah.

In fact, Trump Media almost launched a prediction market, but instead opted for a Crypto.com marketing deal. 

On prediction market platforms, players can trade on markets such as weather, crypto, sports games, and more. 

Gambling is something religious organizations are routinely against. According to Fortune, the United Methodist Church called it a "menace to society." 

Utah Has Long Prohibited Gambling