Latest betting market development: ICYMI: Sens. Schiff, Curtis Introduce Bipartisan Legislation to Ban Sports Prediction Market Contracts. Analysis for sports bettors and prediction market participants.
What You Need to Know
Here are the key details from this alert:
- The Prediction Markets Are Gambling Act marked the Senate’s first bipartisan bill seeking to regulate prediction markets “It ought to be up to the states to decide what kind of gambling goes on within
- This kind of end run around the law is encouraging vast amounts of gambling
- We saw $1 billion of trading in prediction contracts just over the Super Bowl alone
- That’s something that ought to be decided state by state and not decided for them by this industry,” said Senator Schiff
- ) and John Curtis (R-Utah) introduced the Senate’s first bipartisan bill seeking to regulate prediction markets by prohibiting Commodity Futures Trading Commission (CFTC) registered entities from lis
- The legislation would reinforce Congress’ original intent that the Commodity Exchange Act does not permit sports gambling and removes any ambiguity in the statute
- Source: ICYMI: Sens. Schiff, Curtis Introduce Bipartisan Legislation to Ban Sports Predi
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Published by Forebettoday on April 01, 2026. Source: ICYMI: Sens. Schiff, Curtis Introduce Bipartisan Legislation
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