New Mexico Rep Asks Tribes to Open Talks Over Mobile Betting

Is online sports betting finally coming to New Mexico?

State Representative John Block has asked the state’s Indian Affairs Committee to open talks over expanding the industry. The tribes do have casinos around the state with retail sports betting available, but have been largely unwilling to add a mobile market. They fear it would lead to a significant drop in traffic at their casinos, leading them to lose money ultimately.

While Block acknowledged their hesitation, he believes the emergence of sports prediction markets is a far larger threat.

Prediction Markets Affect All Parties

When speaking with the committee, Block made it clear that he believes lawmakers, tribes, and residents should be united in opposition to prediction markets. 

According to Source NM, he told the group that the controversial industry is robbing the state and its tribes of crucial revenue.

It would be really nice, at least, to get some more revenue for people, because if people are already here operating in the state illegally online, then that robs you, it robs us, it robs every single New Mexican of that tax revenue.

New Mexico AG, Tribes United in Fight

Block’s push for online sports betting comes soon after the state and several tribes filed lawsuits against prediction market operators. They accuse the platforms of violating state gambling laws, despite the Commodity Futures Trading Commission insisting that the industry is exempt from such laws.

Speaking of the CFTC, it recently filed a lawsuit against New Mexico over its legal attacks. It escalated the fight over prediction markets, but the state isn’t backing down. It is the eighth US market to be sued by the federal regulator.

Time is of the Essence

Block’s request to discuss online betting emphasizes the need for quick action, and for good reason.

Sports prediction markets are available across New Mexico, giving residents a legal way to bet on sports. While the concept is still new to many bettors, the lack of alternatives is forcing them to adapt. 

The fear is that the longer this goes on, the harder it will be to convince residents to switch to a regulated mobile market. Players will have money in their accounts and be enrolled in loyalty programs. Plus, sportsbooks cost far more to operate, which can lead to higher prices for bettors. 

It seems the longer New Mexico waits, the smaller a potential regulated mobile market would be.