Schiff and Curtis Introduce Bipartisan Bill to Ban Sports Prediction Markets

Senators Adam Schiff (D-CA) and John Curtis (R-UT) introduced a bipartisan bill Monday banning sports-related prediction markets in the U.S.

The legislation would prohibit CFTC-registered entities from listing contracts that resemble sports bets or casino-style games. It asserts Congress never intended the Commodity Exchange Act to permit sports gambling.

States including Nevada and Arizona have moved aggressively against Kalshi-Nevada issued a temporary ban; Arizona filed criminal charges for illegal gambling and unlicensed election wagering.

Kalshi says over 80% of its lifetime trading volume comes from sports markets. A company spokesperson called the bill a protectionist maneuver for U.S. casinos.

The Trump-era CFTC, led by Chair Mike Selig, continues defending prediction markets’ federal jurisdiction-setting up a likely Supreme Court showdown.

Governor Spencer Cox (R-UT) and Rep. Alexandria Ocasio-Cortez (D-NY) joined criticism, citing addiction, financial harm, and societal risk.