Senators Push Bill To Ban Sports Betting On Prediction Markets

(Washington, DC) — A bipartisan group of senators is introducing a bill to ban sporting events from prediction markets. Utah Republican John Curtis and California Democrat Adam Schiff unveiled the legislation yesterday. Schiff says the platforms exploit a loophole that allows sports betting in states where it is otherwise banned. Prediction markets like Polymarket and Kalshi let users place yes-or-no wagers on sports, politics and pop culture, as some states including Arizona and Nevada begin taking legal action against the platforms.