Overview
- Sen. Adam Schiff and Sen. John Curtis introduced a bipartisan bill Monday to block CFTC‑registered platforms from listing contracts that work like sports bets or casino games, and they said Wednesday the companies’ new policies are not enough.
- Kalshi and Polymarket rolled out new guardrails Monday, with Kalshi moving to block politicians and athletes from betting on their own races or games and Polymarket clarifying bans on trading with stolen tips or by people who can sway an outcome.
- House members Nikki Budzinski and Adrian Smith unveiled the PREDICT Act on Wednesday to bar members of Congress, senior executive officials, and certain family members from trading on political event markets, with fines and full profit forfeiture for violations.
- Nevada’s regulators won a temporary restraining order last week requiring Kalshi to block sports, entertainment, and election contracts for in‑state users, and both of the state’s senators backed the new Senate bill by arguing these products amount to unlicensed gambling.
- Canada’s CIRO approved Wealthsimple to offer limited “forecast contracts” that cover economic data, markets, and climate trends but not sports or elections, reflecting a cautious, regulated path as U.S. scrutiny intensifies over well‑timed bets on events in Iran and Venezuela; prediction markets let users buy yes‑or‑no contracts on real‑world outcomes.