An app for Kalshi on a cell phone in Chicago on Feb. 25, 2026. Scott Olson/Getty Images
A bipartisan pair of senators introduced legislation this week aimed at banning sports betting through prediction market platforms such as Kalshi and Polymarket.
Sens. John Curtis (R-Utah) and Adam Schiff (D-Calif.) unveiled the Prediction Markets Are Gambling Act, which would prohibit entities registered with the Commodity Futures Trading Commission (CFTC) from offering prediction contracts that resemble sports bets or casino-style games.
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