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U.S. lawmakers plan bipartisan bill targeting sports event prediction contracts

U.S. lawmakers plan bipartisan bill targeting sports event prediction contracts

According to The Wall Street Journal, Adam Schiff and John Curtis introduced bipartisan legislation to block CFTC-regulated prediction markets from offering sports event and casino-style contracts as state enforcement pressure on Kalshi intensifies.

Fact Check
The claim is supported by a specific news report from BlockBeats (https://m.theblockbeats.info/flash/337618) which cites a Wall Street Journal article from the same day (March 23, 2026). This report explicitly mentions the bipartisan bill targeting sports and entertainment contracts on Polymarket and Kalshi. Corroborating evidence from AOL and Front Office Sports confirms that multiple legislative efforts to regulate these markets are active in March 2026.
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Summary

According to The Wall Street Journal, Adam Schiff and John Curtis introduced a bipartisan Senate bill on March 23 to bar CFTC-regulated prediction markets from listing sports event and casino-style contracts. The reported legislation adds specificity to the earlier proposal by identifying casino-style contracts as a target. The update also comes as Nevada secured a temporary restraining order against Kalshi and Arizona increased regulatory pressure with criminal charges, signaling broader state-level opposition alongside the federal legislative push.

Terms & Concepts
  • Prediction markets: Platforms where users trade contracts tied to the outcomes of future events, including sports and other real-world events.
  • CFTC: The Commodity Futures Trading Commission, the U.S. regulator overseeing derivatives markets and certain event-based contracts.
  • Kalshi: A CFTC-regulated prediction market platform that offers event contracts and has faced regulatory challenges from several U.S. states.