Protect South Dakota From the Pain of Federal Interference
By: Dr. Bill Cohen
As a physician who has spent decades at the American Pain Relief Institute, I’ve seen how harm affects people in ways that go beyond the physical. My work has taught me how easily poorly regulated systems can create stress, financial strain, and emotional pain for families. That’s why South Dakota’s approach to government matters to me: when the rules are strong and locally guided, we protect people from risks they may never see coming. Safeguarding our state sovereignty is a key part of that, because decisions made close to home reflect the needs and values of the people who live here.
When South Dakota voters approved sports betting in 2020, we did it the right way—our way. We built a system rooted in accountability, local control, and common-sense responsibility. Our Gaming Commission and Deadwood casinos ensure that legal wagers follow strict rules, protect consumers, and support the state programs and communities that make South Dakota special. That’s how it should be: South Dakotans regulating South Dakota issues.
And the proof is in the results.
Our state-regulated market is working exactly as intended. Sportsbooks must be licensed, vetted, and regularly audited. Regulators know the operators personally, understand the local landscape, and hold them to the same high standards we expect across all gaming activities in the state. That level of oversight simply isn’t possible from a federal agency thousands of miles away. Because our regulators know our people and our priorities, problems are identified quickly, rules are enforced consistently, and consumer protections are actually meaningful.
Most importantly, the revenue generated stays here. Over the years, in my clinical work and research, I’ve met countless South Dakotans whose well-being depends on clear rules and fair systems, which is why I pay close attention to how new state regulations are handled. Tax dollars from sports wagering support responsible gaming programs, fund tourism and economic development, and help maintain the quality of life South Dakotans value. We built a system that strengthens our local communities while keeping betting activity transparent, accountable, and safe.
But now, a federal agency in Washington is threatening to upend that balance. The Commodity Futures Trading Commission, or CFTC, has begun allowing a new form of online wagering called “prediction markets.” These platforms let people place bets on the outcomes of sports and other real-world events—but they label them “financial contracts” to dodge state gaming laws. If you’re putting money on the outcome of a football game, that’s not a financial hedge. That is sports betting, plain and simple.
And unlike our licensed sportsbooks, prediction market platforms don’t follow our rules. They operate under federal approval, completely outside South Dakota’s regulatory framework. They don’t pay taxes that fund our state programs. They don’t support addiction treatment or responsible gaming efforts. They don’t contribute to tourism or community development. They don’t even answer to our regulators.
That’s not just unfair—it’s dangerous. It undermines the businesses playing by the rules and puts consumers at risk by allowing unregulated operators to skirt the safeguards that South Dakota intentionally built.
The CFTC was never meant to be a gambling regulator. Its job is to oversee commodities like wheat, corn, and cattle—things that matter deeply to South Dakota producers and our economy. That’s where its focus should stay. The last thing we need is Washington bureaucrats deciding how our state handles sports betting.
At the end of the day, South Dakota doesn’t wait for Washington to tell us what’s right, and we never have. We built this system ourselves, with our values in mind, and it’s serving our people well. If Washington wants to help, it can start by staying out of the way.
Because here in South Dakota, we don’t need someone else calling the shots. We’ve got this covered.
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Dr. Bill Cohen is the former medical director at American Pain Relief Institute.
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