U.S. Senators Introduce Legislation to Ban Sports Betting on CFTC-Registered Prediction Markets
Here's what it means for you.
If you’re involved in prediction markets or sports betting, this legislation could reshape your engagement with these platforms.
What happened
On March 23, 2026, U.S. Senators Adam Schiff and John Curtis introduced the Prediction Markets Are Gambling Act to prohibit sports betting on CFTC-registered platforms.
The Context
- Bipartisan support: The bill is co-sponsored by Senators from both parties, reflecting a united front on regulating prediction markets.
- Rapid growth: Prediction markets have surged, with trading volumes hitting $4.5 billion during Super Bowl week, raising concerns about oversight.
- Legal challenges: Recent legal actions against platforms like Kalshi highlight the increasing scrutiny and potential risks for users and operators alike.
The Number
— This is the total trading volume on prediction markets during the week of Super Bowl Sunday 2026, underscoring the substantial financial stakes involved.
Takeaway
As regulatory frameworks evolve, expect increased scrutiny and potential changes in how you engage with prediction markets and sports betting.
Capitol Hill news, legislation, and policy insight.
"The Hill specializes in U.S. politics and policy, with a focus on Capitol Hill developments and a reputation for insider reporting."
— A47 Editor
New bill targets sports prediction markets: What are they, and why could some be banned?
A new bipartisan bill has been introduced that targets certain prediction markets, which are platforms where users can make bets on the outcomes of various events, including sports. This legislative move aims to regulate these markets more strictly, ...
U.S. business news, corporate developments, and economy.
"The Wall Street Journal is respected for deep financial and economic reporting with a center-right editorial perspective."
— A47 Editor
Lawmakers Introduce Bipartisan Bill Banning Sports Bets on Prediction Markets
A bipartisan pair of U.S. senators has introduced legislation aimed at prohibiting entities regulated by the Commodity Futures Trading Commission (CFTC) from listing contracts related to sporting events. This move reflects growing concerns over the i...
National headlines across the United States including breaking stories and societal issues.
"NBC News is a mainstream media outlet known for comprehensive national and international news coverage with a centrist to slightly left-leaning editorial tone."
— A47 Editor
Senators introduce bipartisan bill to ban sports betting on prediction markets
A bipartisan bill has been introduced in the Senate aimed at banning prediction markets, such as Kalshi and Polymarket, from engaging in transactions related to sports events. This legislative move reflects growing concerns over the regulation of the...