PANews reported on March 23 that, according to the Wall Street Journal, U.S. Senator Adam Schiff and Representative John Curtis will introduce a bipartisan billPANews reported on March 23 that, according to the Wall Street Journal, U.S. Senator Adam Schiff and Representative John Curtis will introduce a bipartisan bill
US lawmakers from both parties have proposed banning prediction markets from offering sports betting.
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PANews reported on March 23 that, according to the Wall Street Journal, U.S. Senator Adam Schiff and Representative John Curtis will introduce a bipartisan bill to ban all entities regulated by the Commodity Futures Trading Commission ( CFTC ), including Kalshi and Polymarket 's U.S. platforms, from listing sports betting prediction contracts. Schiff stated that the CFTC is "giving the green light and pushing for the expansion" of such markets, and the bill aims to close a federal "backdoor" to prevent circumventing state consumer protection regulations for gambling, infringing on tribal government sovereignty, and failing to contribute tax revenue to the public sector.
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