Sen. Adam Schiff on regulating prediction markets

Senators Adam Schiff and John Curtis introduced the bipartisan "Prediction Markets Are Gambling Act" to classify prediction markets as gambling. The bill targets platforms enabling betting on events (including political outcomes) and could constrain fintech and crypto operators that host such markets, though it is unlikely to have immediate market-wide effects.

Analysis

Senators Adam Schiff and John Curtis introduced the bipartisan "Prediction Markets Are Gambling Act" to classify prediction markets as gambling. The bill targets platforms enabling betting on events (including political outcomes) and could constrain fintech and crypto operators that host such markets, though it is unlikely to have immediate market-wide effects.