Prediction Markets Are Gambling Act

Sponsor: Adam B. Schiff (Democratic-CA)March 23, 2026

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Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Would ban trading on sports and casino game outcomes on regulated financial platforms.

This bill would ban certain financial bets on sports and casino games. It would stop regulated trading platforms from offering these types of contracts. This means people could no longer use these specific contracts if the bill becomes law.

What Would Change

Today, regulated financial platforms can offer contracts based on the outcomes of sports and casino games. If this bill passes, these platforms would be prohibited from listing or trading such contracts, starting immediately for any new agreements made on or after the day the bill becomes law.

Key Provisions

Would ban financial contracts related to sports or casino games from being traded on regulated financial platforms.
Would define "casino-style game" to include games like slot machines, blackjack, roulette, bingo, and lottery.
Would define "sporting event" to cover all levels of competition, including amateur, college, and professional sports.
Would clarify that this federal ban does not override existing state laws about these types of contracts.
Would apply the ban to any new contracts made on or after the day the bill becomes law.

View on Congress.gov

S 4160 · 119th Congress · March 23, 2026 · AI Summary by gemini-2.5-flash · 9/10

Prediction Markets Are Gambling Act

What Would Change

Key Provisions

Lobbying Activity