Two US lawmakers from opposing political parties are set to introduce legislation to ban sports-related betting on federally regulated prediction market platforms.
US Senators Propose Sports-Betting Ban on Polymarket, Kalshi: WSJ
23 March 2026 - 11:30 CET
By Matt Neill
Senators Adam Schiff, a Democrat from Massachusetts, and John Curtis, a Republican from Utah, are aiming to block entities overseen by the Commodity Futures Trading Commission (CFTC), including Kalshi and Polymarket, from offering contracts tied to sporting events or casino-style games. The senators cited regulatory loopholes and consumer protection concerns in comments to the Wall Street Journal.
Their proposal highlights escalating tension between federal and state authorities regarding jurisdiction for oversight of the fast-growing sector. While the CFTC claims exclusive jurisdiction over event-based contracts, states including Nevada, Arizona and Michigan have pursued legal action, arguing the platforms amount to unlicensed gambling operations.
The push comes as prediction markets expand rapidly, with trading heavily concentrated in sports contracts, putting them in direct competition with operators such as FanDuel and DraftKings.
Growing ties with sports leagues and data providers have intensified political scrutiny over integrity risks, addiction concerns and the potential erosion of state-level gambling controls.
