New Senate Bill Targets Sports Prediction Markets

[madtrader]

U.S. lawmakers are moving to crack down on prediction markets, with Adam Schiff and John Curtis introducing bipartisan legislation to ban sports-related contracts on CFTC-regulated platforms. The bill would also prohibit casino-style offerings like blackjack, poker, and slot-style games from appearing on these platforms.

The proposal marks the first major Senate push to limit the fast-growing prediction market sector. Lawmakers argue that these platforms blur the line between financial derivatives and gambling, raising concerns around consumer protection, youth exposure, and regulatory oversight.

[cryptoenthusiast]

proposed legislation by Adam Schiff and John Curtis signals growing political attention on prediction markets