US EditionSenators Schiff and Curtis Propose Ban on Sports Betting in Federal Prediction Markets
Bipartisan lawmakers aim to ban sports and casino betting contracts on CFTC platforms amid regulatory uncertainty and a sector valued near $20 billion, officials said.
- A bipartisan group of senators introduced legislation to ban sports betting and casino-style games on prediction-market platforms regulated by the CFTC, such as Kalshi and Polymarket's U.S. platform.
- Senators John Curtis and Adam Schiff stated the bill aims to address concerns about consumer protections, tribal sovereignty, and prevent unregulated gambling markets.
- Prediction markets offering sports wagers compete with traditional sportsbooks, with 89% of Kalshi's revenue coming from sports-related bets.
34 Articles
34 Articles
Bipartisan senators unveil bill banning sports prediction market contracts
Sens. Adam Schiff (D-Calif.) and John Curtis (R-Utah) introduced a bill Monday that would ban prediction markets from listing sports bets or casino-style games on their platforms. The Prediction Markets Are Gambling Act would block entities that are regulated by the Commodity Futures Trading Commission (CFTC), like prediction markets, from allowing wagers on sporting events…
Bipartisan Bill Targets Sports Betting on Prediction Markets
U.S. Senate Moving Bi-Partisan Bill to Ban Sports Betting on Prediction Markets like Kalshi, Polymarket
A bill to ban sports betting on prediction markets has been introduced by a bi-partisan group of U.S. Senators to prevent betting. The post U.S. Senate Moving Bi-Partisan Bill to Ban Sports Betting on Prediction Markets like Kalshi, Polymarket appeared first on Breitbart.
Senators move to ban sports betting on prediction markets like Kalshi, Polymarket — first bill of its kind
A bipartisan Senate duo is introducing legislation that would prohibit prediction markets like Kalshi and Polymarket from letting people bet on sports and casino-style games.
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