The Oneida Nation is praising state leaders for taking action against companies that are allegedly engaged in illegal sports betting.This week, the Wisconsin Department of Justice filed three lawsuits against companies like Cryp to.com and Kalshi, alleging they are generating revenue through unlawful gambling in the state.Sports betting is illegal in Wisconsin, with the exception of some tribal gaming."Theres a very large disparity between what tribes face and have to do to have regulated gambling in the state of Wisconsin, as opposed to what these prediction markets are putting forth," Oneida Nation Chairman Tehassi Hill explained.Wisconsin restrictions prohibit placing sports bets through apps like FanDuel, but prediction markets found a way to sidestep the law."It's game mechanism, essentially," said Jason Kido Lopez, a sports betting expert and assistant professor at UW-Madison. "For these prediction markets, it works on a pooling system, which doesnt have the same legal system around it."The DOJ says the companies use specific language to disguise sports bets, selling them as "event contracts.""Gambling is always a matter of finding these kind of, like, spaces within the law," mentioned Lopez. "It's hard to say whether it's a loophole or whether it's just an open opportunity."Watch the full story by Jessica Goska here: Oneida chairman praises state action against illegal sports bettingWhen tribes engage in gaming, they must follow state regulations."But with these prediction markets, none of that is in place," said Hill, who added that the rules are there for a reason: "to make sure that people who place bets are getting paid what theyre promised."Neighbors could feel the impacts of lost potential revenue because some money earned from tribal gaming is reinvested in Wisconsin."Taking money out of the state for these prediction markets is a concern for not only Oneida but the state of Wisconsin," Hill emphasized.The lawsuits ask a judge to permanently stop the trade of event contracts by Wisconsin-based customers.The Oneida Nation says any new gaming must respect existing tribal agreements. ...read more read less