Wednesday, May 6, 2026 – Tribes try to stay ahead of prediction markets on sports betting

Tribes in Wisconsin are celebrating that state's new law that gives them exclusive control over sports betting in the state, but a similar attempt to secure tribal control of sports betting fell flat in Oklahoma. Both actions come as prediction market companies like Kalshi and Polymarket are raking in hundreds of millions of dollars offering wagers on nearly everything including sports. One attorney says prediction market companies pose an existential threat to Native American gaming. We'll speak with tribal leaders and Native academics about the legal and political fight over ground in the multi-billion dollar sports betting market. Also, President Donald Trump’s move to reclassify marijuana to a less restrictive status is a win for the Omaha Tribe. The tribe is working to open a medical marijuana operation after tribal council voted in 2025 to legalize medical marijuana on tribal lands, but the effort continues to face roadblocks, including the Nebraska governor, who has opposed legalization.