Policy | March 23, 2026

Senate Bill Moves Against Sports Prediction Markets

Adam Schiff and John Curtis plan to bar CFTC-regulated venues from listing sports or casino-style contracts, widening the fight over whether prediction markets belong under federal market rules or state gambling law.

U.S. senators Adam Schiff and John Curtis plan to introduce a bill that would ban sports-related contracts on American prediction market platforms. Decrypt reported that the proposal would stop CFTC-regulated venues from listing products that resemble sports bets or casino games, putting Kalshi and Polymarket in direct danger.

The bill is an attempt to settle a classification fight that regulators and courts still have not closed.