CONFIDENTIAL HELP LINE
Utah has the most firm stance against all forms of gambling in the contiguous United States. The activity is unregulated and illegal in all shapes and forms, including lottery, online casino gaming, tribal casino gaming, and sports betting. Meanwhile, the buying and selling of stocks, bonds, and other financial instruments is fully legal when conducted through legitimate broker-dealers. So while the Beehive State has strict anti-gambling laws, standard trading is considered a legal financial activity, distinct from betting.
The delineation between betting and trading has become gray area over the last year-and-a-half, however, with the arrival of Utah prediction markets that offer participants the option to buy and sell contracts on the outcomes of sporting events. It was not just win/loss outcomes, as the sports category for prediction markets in Utah initially offered trading options labelled as Props, Win Totals, and Futures, all of which are terms used ubiquitously across online sportsbook apps and websites. The words Moneyline and Spread also accompany prompts to trade on a given sporting event outcome:
From a popular prediction market platform
It’s this sort of language – and functionality – that contributes to Utah Senator John Curtis’ mission to legally define prediction markets as gambling. The Prediction Markets are Gambling Act would prohibit platforms from allowing any prediction contracts related to sporting events and athletic competitions in Utah. If passed, it would theoretically take the Commodities Futures Trading Commission (CFTC) regulated activity out of the hands of the CFTC and hand it over to the state government, effectively banning sports-based prediction markets in Utah. The state made it’s first successful move in a similar direction when it officially banned the above mentioned Props and tightened restrictions on prediction markets via HB243, a bill that was signed by Gov. Spencer Cox and became effective on May 6, 2026. The law explicitly classifies wagering on individual player actions or specific in-game events as illegal gambling. Should John Curtis’ proposed law (follow developments here) also come to pass, the theoretic removal of CFTC control and subsequent ban (in Utah) would be the direct impact of the redefinition. But there’s more to it.
Pointing Impacted Utahns to Support Services
From a mental and behavioral health perspective, redefinition – or even discussion about redefining sports contracts on prediction markets – could have a beneficial impact on the psyche of Utahns. A recent Deseret News / Hinckley Institute of Politics poll found 50% of Utah residents already consider prediction markets gambling, while 30% do not, and 20% don’t know where they stand on the matter. With greater clarity, those who may struggle to maintain a healthy relationship with the activity may better come to understand where to get help.
Let’s say local readers side with the CFTC and prediction market operators, and agree that sporting contracts are trading products, and not gambling. Does the belief change elements of risk for those who are vulnerable to addictive behaviors? A wide body of research (view here and here) confirms that unhealthy trading closely mirrors problem gambling, sharing core psychological and behavioral traits such as loss-chasing, overconfidence, and loss of control, which can lead to severe financial and personal consequences. Experts note that excessive trading, especially in high-frequency day trading, acts as a behavioral addiction rather than a strategic financial activity. Recognizing this, support services for those who are unable to trade responsibly are often labelled as problem gambling support over problem trading support. The rationale is backed by how compromised Utah residents (and their loved ones) perform search for local support services. This is confirmed by looking at Google / Gemini AI data regarding search volume occurring from within Utah:
Search for a gambling help line outpaces search for unhealthy trading related queries ten-fold.
Whether Utah succeeds in redefining sporting contracts on prediction markets or not, Utah residents who (or their loved ones) have developed an unhealthy relationship with the activity may now better understand where to get help. Treatment strategies for unhealthy trading align with those for problem gambling, which Utah residents can learn more about right here. Those who need help now should call the gambling help line provided below. Assessments are FREE and ongoing treatment for unhealthy trading/gambling and cooccurring mental health issues is covered by most insurance.
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