The Digester

A bipartisan Senate bill would prohibit federally regulated prediction markets from offering sports betting and casino-style games, intensifying a legal and regulatory fight involving Kalshi, Polymarket, state prosecutors and the CFTC.

Senators Adam Schiff and John Curtis introduced a bipartisan bill to bar federally regulated prediction platforms from offering wagers on sporting events and casino-style games.
The measure targets marketplaces such as Kalshi and Polymarket that operate under Commodity Futures Trading Commission oversight.
Sponsors say sports prediction contracts circumvent state consumer protections and tribal sovereignty and should fall under state control.
Kalshi warned a federal ban would push activity offshore and accused casino interests of driving the effort.
States are taking action: Nevada won a temporary restraining order limiting Kalshi's operations and Arizona has filed criminal charges against the company.
The dispute follows the 2018 Supreme Court ruling that reopened sports betting to state regulation and has driven rapid growth in online prediction markets.

Senate bill would ban sports betting on regulated prediction markets

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