{"id":2583301,"date":"2026-03-24T12:30:01","date_gmt":"2026-03-24T16:30:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/prediction-markets-face-mounting-scrutiny-from-congress\/"},"modified":"2026-03-24T12:34:30","modified_gmt":"2026-03-24T16:34:30","slug":"prediction-markets-face-mounting-scrutiny-from-congress","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/prediction-markets-face-mounting-scrutiny-from-congress\/","title":{"rendered":"Prediction markets face mounting scrutiny from Congress"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fprediction-markets-face-mounting-scrutiny-from-congress%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2583301&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Senators Adam Schiff (D-CA) and John Curtis (R-UT) have introduced the bipartisan Prediction Markets Are Gambling Act to ban platforms regulated by the CFTC from trading on sports or casino outcomes,labeling sports-prediction contracts as bets that may violate state and federal law. The push comes after Major League Baseball struck a deal with Polymarket to make it the league\u2019s exclusive prediction market partner. A broader push from Democrats, led by Sen. Chris Murphy and Rep. Greg Casar, seeks to prohibit wagers on government actions and other events deemed ripe for rigging. In response to scrutiny, Kalshi and Polymarket have unveiled new internal rules and guardrails aimed at <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/were-a-free-market-nancy-pelosi-rejects-ban-on-lawmakers-spouses-trading-individual-stocks\/\" title=\"&#039;We&#039;re a Free Market&#039;: Nancy Pelosi Rejects Ban on Lawmakers, Spouses ... Individual Stocks\">preventing insider trading<\/a> and other abuses, and there has been heightened regulatory attention, including a CFTC-MLB agreement to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-mint-can-produce-gold-trump-coin-after-recasted-arts-committee-approval\/\" title=\"US Mint can produce gold Trump coin after recasted arts committee approval\">regulate sports <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stephen-moore-america-needs-political-prediction-markets\/\" title=\"Stephen Moore: America Needs Political Prediction Markets\">prediction markets<\/a><\/a>.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Schiff and Curtis team up to ban sports betting from prediction markets<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2511874\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>Members of Congress are increasingly targeting prediction markets such as <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/4494267\/democratic-measure-ban-betting-government-action-prediction-markets\/\" type=\"link\" id=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/4494267\/democratic-measure-ban-betting-government-action-prediction-markets\/\">Polymarket <\/a>and <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4446419\/kalshi-ups-market-surveillance-prediction-markets-heightened-scrutiny\/\" type=\"link\" id=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4446419\/kalshi-ups-market-surveillance-prediction-markets-heightened-scrutiny\/\">Kalshi <\/a>with proposed regulations to limit bets on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fact-check-does-this-video-show-a-su-25-jet-being-shot-down\/\" title=\"FACT CHECK: Does This Video Show A SU-25 Jet Being Shot Down?\">real-world events<\/a> that critics say are <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/in_focus\/4431953\/accusations-insider-trading-maduro-operation-prediction-markets-focus\/\" type=\"link\" id=\"https:\/\/www.washingtonexaminer.com\/in_focus\/4431953\/accusations-insider-trading-maduro-operation-prediction-markets-focus\/\">primed for insider trading<\/a> and flout laws against sports betting.<\/p>\n<p>Sens. <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/adam-schiff\/\" type=\"link\" id=\"https:\/\/www.washingtonexaminer.com\/tag\/adam-schiff\/\">Adam Schiff<\/a> (D-CA) and <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/john-curtis\/\" type=\"link\" id=\"https:\/\/www.washingtonexaminer.com\/tag\/john-curtis\/\">John Curtis<\/a> (R-UT) have <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.schiff.senate.gov\/news\/press-releases\/news-sens-schiff-curtis-introduce-bipartisan-legislation-to-ban-sports-prediction-market-contracts\/\">introduced<\/a> the first bipartisan prediction markets bill in the Senate, the Prediction Markets Are Gambling Act, to ban platforms and other entities regulated by the Commodity Futures Trading Commission from trading on sports or casino games.<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/4501365\/stitt-appoints-alan-armstrong-fill-mullin-oklahoma-senate-seat\/\">Kevin Stitt appoints Alan Armstrong to fill Mullin&#8217;s Senate seat<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/4501257\/online-movement-against-john-fetterman-is-only-present-in-far-left-salena-zito\/\">&#8216;Online movement&#8217; against John Fetterman is only present in the &#8216;far-left&#8217;: Salena Zito<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/4501234\/republican-senators-see-hope-dhs-funding-deal-trump-meeting\/\">Republican senators see hope for DHS funding deal after Trump meeting<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>&ldquo;Sports prediction contracts are sports bets &mdash; just with a different name,&rdquo; Schiff said. &ldquo;And yet, these contracts&nbsp;have been&nbsp;offered in all fifty states in clear violation of state and federal law.&rdquo;<\/p>\n<p>The bill comes after <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/major-league-baseball\/\" type=\"post_tag\" id=\"2599\">Major League Baseball<\/a> inked a deal with Polymarket last week, making the platform its exclusive prediction market partner.<\/p>\n<p>It also comes as a group of Democratic lawmakers, led by Sen. <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/chris-murphy\/\" type=\"post_tag\" id=\"2927\">Chris Murphy<\/a> (D-CT) and Rep. Greg Casar (D-TX), have unveiled legislation to prohibit wagers on government actions, terrorism, war, assassination, and other events &ldquo;ripe for rigging.&rdquo;<\/p>\n<p>The betting platforms, which have grown rapidly in recent years, appear to be feeling the heat from Washington and are taking proactive steps amid a potential crackdown. Kalshi and Polymarket, bitter business rivals, each released new internal rules on Monday to govern aspects of their businesses that have come under scrutiny.<\/p>\n<p><strong><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance\/4497435\/cftc-mlb-sign-agreement-regulate-sport-prediction-market\/\">CFTC AND MLB SIGN AGREEMENT TO REGULATE SPORTS PREDICTION MARKETS<\/a><\/strong><\/p>\n<p>Polymarket <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.businesswire.com\/news\/home\/20260320997513\/en\/Polymarket-Publishes-Enhanced-Market-Integrity-Rules-Across-Its-DeFi-Platform-and-CFTC-Regulated-U.S.-Exchange\">released<\/a> &ldquo;<a href=\"https:\/\/amzn.to\/3YuVZYV\" >enhanced market integrity rules&#038;rdquo<\/a>; to &ldquo;clarify&rdquo; three core areas of &ldquo;prohibited insider trading conduct,&rdquo; namely trading on stolen confidential information, illegal tips, or by those who can influence the outcome.<\/p>\n<p>Kalshi <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/news.kalshi.com\/p\/kalshi-new-guardrails-insider-trading-politics-sports\">unveiled<\/a> &ldquo;new guardrails&rdquo; to better prevent sports participants and political candidates from trading on their leagues and campaigns, respectively. &nbsp;<\/p>\n<\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Schiff and Curtis seek ban on sports bets in prediction<\/p>\n","protected":false},"author":3108,"featured_media":2583302,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/08\/schiff-mortgage-fraud-trump-new-weapon.jpg?w=696","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[4402,10680,4326,75979,5270],"class_list":["post-2583301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-congress","tag-finance","tag-policy","tag-prediction-markets-2","tag-regulation"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/08\/schiff-mortgage-fraud-trump-new-weapon.jpg?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2583301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3108"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2583301"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2583301\/revisions"}],"predecessor-version":[{"id":2583307,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2583301\/revisions\/2583307"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2583302"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2583301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2583301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2583301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}