A bipartisan Senate duo is introducing legislation to ban sports betting on prediction markets like Kalshi and Polymarket. The bill would prohibit any entity registered with the Commodity Futures Trading Commission from listing or facilitating transactions linked to sporting events or athletic competitions, and would also prohibit bets tied to casino-style games. This is the first Senate effort to address the rapid growth of sports-linked trading on platforms that operate outside state-regulated gambling frameworks. The legislation was co-sponsored by Sens. Adam Schiff (D-Calif.) and John Curtis (R-Utah). While sports betting is typically overseen at the state level, prediction markets use financial instruments such as futures and commodity contracts, placing them under federal jurisdiction.