Senators Target Prediction Markets with Gambling Ban Bill

U.S. senators introduce the bipartisan "Prediction Markets Are Gambling Act" to ban sports betting on platforms like Kalshi and Polymarket regulated by the CFTC. The bill prohibits event contracts on sporting events and casino-style games such as slots, video poker, blackjack, and bingo. Sponsors Sen. Adam Schiff (D-Calif.) and Sen. John Curtis (R-Utah) aim to channel betting to properly regulated venues. Read more about this...