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Following the vote, IGA Chairman David Bean said in a statement that the Senate “did the right thing” by not advancing the bill. The Clarity Act “could have expanded CFTC commodities authority” without clear protections, Bean said, but he cautioned that “it is not the end of this fight”.
The AGA declined to comment Thursday, and directed iGB to the June letter.
The failure to secure passage of the bill is a stinging defeat for both crypto-connected prediction operators and the CFTC, which has fully embraced the advance of digital assets under Chairman Michael Selig. Interest groups and political action committees had spent countless hours and millions of dollars lobbying for the legislation.
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“One fact of financial life should never be forgotten. Wall Street–to use the term in its figurative sense–would like its customers to make money, but what truly causes its denizens’ juices to flow is feverish activity. At such times, whatever foolishness can be marketed will be vigorously marketed–not by everyone but always by someone,” Buffett warned.
Buffett was not always entirely anti-gambling. Before commercial sports betting expanded across the United States, he regularly offered $1 million annually to any Berkshire Hathaway employee who submitted a perfect NCAA March Madness men’s basketball bracket.
To date, no individual has ever recorded a verified perfect NCAA tournament bracket.
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The Meadows Addition—”Las Vegas” is Spanish for “the meadows”—was created in the late 1940s as a grid of 16 streets named after other cities, including New York, Chicago, Cleveland, St. Louis, and Philadelphia. Before the Sahara opened in 1952, Sahara Avenue was wholly contained in this community, where it was known as San Francisco Street.
When its first apartment buildings opened in 1953, the Meadows Addition became a popular home for Strip employees, including showgirls, who found the low rents and short commutes ideal.
But the expansion of Las Vegas beyond the Strip eventually gave its hospitality workers and performers their pick of nearby accommodations, including beautiful new houses that were also reasonably priced and more suited to raising families.
