How a disputed $1 billion claim became a powerful weapon against prediction markets

On the American Gaming Association’s website, a counter has been climbing for months, tallying what the casino-and-sportsbook lobby says states and tribes have lost to prediction markets. On Thursday, it rolled past $1 billion, and the AGA moved fast to make a headline out of it, with President Bill Miller going on CNBC to warn that states and tribes were losing money that would otherwise fund community programs. Pla…