WASHINGTON, March 23 -- Sen. Adam Schiff issued the following press release:
Today, U.S. Senator Adam Schiff (D-Calif.) and Senator John Curtis (R-Utah) introduced the Prediction Markets Are Gambling Act, bipartisan legislation (https://www.schiff.senate.gov/wp-content/uploads/2026/03/Prediction-Markets-Are-Gambling-Act.pdf) to prohibit Commodity Futures Trading Commission (CFTC) registered entities from listing any prediction contract that resembles a sports bet or casino-style game.
"Sports prediction contracts are sports bets - just with a different name. And yet, these contracts have been offered in all fifty states in clear violation of state and federal law. Rather than enforce the law, the CFTC is greenlighting these markets and e...