WASHINGTON, March 25 -- Sen. Adam Schiff issued the following press release:
U.S. Senators Adam Schiff (D-Calif.) and John Curtis (R-Utah) appeared (https://www.youtube.com/watch?v=xUPE6Pyh0Yw) on CNBC's Squawk Box to highlight the new Prediction Markets Are Gambling Act (https://www.schiff.senate.gov/news/press-releases/news-sens-schiff-curtis-introduce-bipartisan-legislation-to-ban-sports-prediction-market-contracts/), legislation they introduced this week to prohibit Commodity Futures Trading Commission (CFTC)-registered entities from listing any prediction contract that resembles a sports bet or casino-style game.
During the interview, the Senators reiterated that the authority to regulate gambling and sports betting lies with the sta...