Congress to Prediction Markets: “You’re Not a Casino, But We’re Not Convinced”
According to reports from the Wall Street Journal and the Sports Business Journal, Senators Adam Schiff (D-Calif.) and John Curtis (R-Utah) have teamed up like a mismatched buddy cop duo to introduce legislation that would effectively tell prediction markets, “You’re not a casino, but we’re not convinced.” The bill, unveiled on March 23, aims to block federally regulated prediction platforms from offering contracts tied to sports and casino-style games. In the crosshairs? Firms like Kalshi and Polymarket, whose U.S. operations are now feeling the regulatory side-eye.




