Sports betting on prediction markets has become a controversial topic. With a focus on preventing addictive sports betting habits, lawmakers have proposed a new bipartisan bill.
This bill, created by U.S. senators, aims to introduce legislation that would prohibit entities regulated by the Commodity Futures Trading Commission (CFTC), like Kalshi, from offering content tied to sporting events.
The bill would also ban “casino-style games” from being offered on prediction-market platforms.
What's Happening?
Prediction market advocates and gambling legislators continue to debate the issue. Lawmakers and senators view prediction markets as a negative influence that could encourage problem gambling.
The Democratic Sen. of California, Adam Schiff, had this to say:
“It’s time for Congress to step in and eliminate this backdoor, which violates state consumer protections, intrudes upon tribal sovereignty and offers no public revenue.”
Meanwhile, industry leaders from prediction market sites argue that casinos and sports betting companies, like DraftKings and FanDuel, are pushing to halt sports betting on platforms like Kalshi and Polymarket on the basis of competition.
In Other News
As of Monday, March 23, 2026, the bill is in progress. Last week, Polymarket announced a partnership with Major League Baseball, which would be directly impacted by this legislation.
While the debate continues, we'll see what happens as Kalshi and Polymarket representatives attempt to preserve their practices from restrictions created by U.S. lawmakers.
