Bipartisan bill would ban sports bets

(CNN)– A new bipartisan bill aims to ban some betting with prediction-market exchanges.

That could impact U.S. platforms for Kalshi and Polymarket.

The Prediction Markets Are Gambling Act was introduced Monday, March 23, 2026, by Democratic Senator Adam Schiff and Republican Senator John Curtis.

It would prohibit any entity registered with the commodity futures trading commission from listing anything that resembles sports betting.

Schiff says some entities regulated by the Commission Violate Consumer Protections.

Both Kalshi and Polymarket introduced new guardrails and tools to prevent insider trading and market manipulation.