Prediction Markets Are Gambling Act

This bill would change the Commodity Exchange Act to ban event contracts tied to sports or casino-style games from being listed, cleared, or traded on federally registered trading platforms. It defines sporting events to include live or virtual contests at the amateur, college, and professional levels. It defines casino-style games to include slot machines, video poker, blackjack, roulette, craps, bingo, lottery, and simulations of those games. The ban would apply to contracts entered into on or after the date the bill becomes law, and the bill states that it does not override state laws that regulate or ban such contracts.

Full text and official record on Congress.gov

Sponsors

• Adam B. Schiff Democrat sponsor
• 2 cosponsors