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Macro EconomyMediumUpdated×3•Originally published 23 March 2026•Updated 23 March 2026•

1 min read

US Bipartisan Bill Seeks to Ban Sports Betting on Regulated Prediction Markets

Emmanuel Macron's face centered between cracked Visa and Mastercard cards, with Euro and Ethereum symbols, bank buildings, and digital payment cards.

Key Facts

1A bipartisan pair of U.S. senators are introducing legislation to prohibit CFTC-regulated entities from listing contracts related to sporting events.

2 months ago

Version History

11 additional sources confirmed this story

Version 32 months ago

What changed: Added MGM Resorts to the list of gaining stocks and included a specific metric showing that 90% of Kalshi's revenue is directly threatened by the proposed ban.

Version 22 months ago

What changed: Identified Polymarket as a primary target, expanded the ban's scope to include casino-style games, and noted the bill's status as the first of its kind in the sector.

Version 12 months ago

What changed: Updated to include the positive market reaction for traditional sports betting stocks like DraftKings, Flutter, and MGM following the bill's introduction.

A bipartisan pair of U.S. senators is introducing legislation to prohibit entities regulated by the CFTC from listing sports-related betting contracts. The proposed bill specifically identifies Polymarket as a primary target of the legislation, alongside platforms like Kalshi. This move poses a significant threat to Kalshi, as estimates suggest approximately 90% of the platform's prediction-market fee revenue has been tied to sports in recent months. Furthermore, the scope of the ban has been expanded to include 'casino-style games,' further tightening the regulatory net around prediction markets. Shares of major operators, including DraftKings, Flutter, and MGM Resorts, rose following the news as the bill is expected to limit competition from regulated financial platforms. The development highlights growing concerns regarding market integrity and the potential for financial instruments to be used as a vehicle for gambling.