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Prediction Markets Are Gambling Act
To amend the Commodity Exchange Act to prohibit certain event contracts involving sports and casino-style games.
Summary
- Prohibits registered commodity exchanges and entities from listing, clearing, or trading contracts or agreements relating to sporting events or athletic competitions.
- Prohibits registered commodity exchanges and entities from listing, clearing, or trading contracts or agreements relating to casino-style games, including slot machines, video poker, blackjack, roulette, craps, bingo, and lotteries.
- Defines "sporting event or athletic competition" to include live or virtual contests involving physical activity or skill at amateur, collegiate, and professional levels where performance determines an outcome.
- Defines "casino-style game" to include any game traditionally found in a casino and simulations of such games.
- Does not preempt state laws or rules that regulate or prohibit such contracts or agreements.
- Applies to any agreements or contracts entered into on or after the date of enactment.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Schiff, Adam B. [D-CA] (D-CA)
2 cosponsors
Actions (2)
- Mar 23, 2026 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. · senate
- Mar 23, 2026 Introduced in Senate
Similar bills (6)
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Text versions (1)
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Full text
IN THE SENATE OF THE UNITED STATES
March 23, 2026
Mr. Schiff (for himself, Mr. Curtis, and Ms. Cortez Masto) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry
A BILL
To amend the Commodity Exchange Act to prohibit certain event contracts involving sports and casino-style games.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Prediction Markets Are Gambling Act”.
SEC. 2. PROHIBITION ON CERTAIN EVENT CONTRACTS INVOLVING SPORTS AND CASINO-STYLE GAMES.
(a) Amendment to the Commodity Exchange Act.—Section 5c(c) of the Commodity Exchange Act (7 U.S.C. 7a-2(c)) is amended by adding at the end the following:
“(6) Prohibition on sporting and casino-style event contracts.—
“(A) Definitions.—In this paragraph:
“(i) Casino-style game.—The term ‘casino- style game’ means any game traditionally found in a casino, including slot machine games, video poker, blackjack, roulette, craps, any other casino-style table game, bingo, lottery, and any simulation of any of those games.
“(ii) Sporting event or athletic competition.—The term ‘sporting event or athletic competition’ means any live or virtual contest involving physical activity or skill in which individuals or teams compete and performance determines an outcome or statistical result, including amateur, collegiate, and professional sports.
“(B) Prohibition.—Notwithstanding any other provision of this section, no agreement, contract, or transaction relating to any sporting event or athletic competition or any casino-style game may be listed or made available for clearing or trading on or through a registered entity.
“(C) Rule of construction.—Nothing in this Act shall be construed to preempt any State law or rule that regulates or prohibits any agreement, contract, or transaction relating to any sporting event or athletic competition or any casino-style game.”.
(b) Applicability of Prohibition.—Paragraph (6)(B) of section 5c(c) of the Commodity Exchange Act (7 U.S.C. 7a-2(c)) (as added by subsection (a)) shall apply to any agreement, contract, or transaction entered into on or after the date of enactment of this Act. <all>
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