Prediction Markets Are Gambling Act

Progress

Timeline

• Mar 23Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Summary

**Bill Summary: S 4160** This bill would change federal law to ban certain types of betting contracts on sports events and casino-style games through commodity exchanges. **What it does:** The bill would amend existing financial trading laws to prohibit contracts that allow people to bet on the outcomes of sporting events or casino games through regulated commodity markets. **Who it affects:** - Commodity exchanges and trading platforms - People who might want to place these types of bets - Financial regulators who oversee these markets **What would change:** Currently, some financial markets allow trading on event outcomes. If passed, this bill would make it illegal to offer or trade these sports and casino-style betting contracts through commodity exchanges, effectively removing this option from regulated financial markets. The bill is currently under review in a Senate committee and has not yet been voted on by the full Senate.

How This Affects You