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119-s-4160119th CongressWALLET

Prediction Markets Are Gambling Act

Sponsored By: Senator Schiff, Adam B. [D-CA]

Introduced

Summary

Bans derivatives tied to sports and casino-style events on registered U.S. exchanges and clearinghouses. This bill would add a new prohibition to the Commodity Exchange Act that stops registered entities from listing, clearing, or trading contracts based on sporting events, athletic competitions, or casino-style games and it defines the covered games and contests.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

Ban on sports and casino contracts

If enacted, the bill would ban listing, clearing, or trading of contracts tied to sporting events or casino-style games on registered exchanges or clearinghouses. Casino-style games would include slots, video poker, blackjack, roulette, craps, bingo, lotteries, and simulations. Sporting events would include live or virtual contests of physical skill, including amateur, collegiate, and professional sports. The ban would apply to contracts entered into on or after the date of enactment. The bill would also say it does not override state laws that regulate or ban these contracts.

Sponsors & CoSponsors

Sponsor

Schiff, Adam B. [D-CA]

CA • D

Cosponsors

  • Sen. Curtis, John R. [R-UT]

    UT • R

    Sponsored 3/23/2026

  • Sen. Cortez Masto, Catherine [D-NV]

    NV • D

    Sponsored 3/23/2026

Roll Call Votes

No roll call votes available for this bill.

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