S4160Referred to Committee

Prediction Markets Are Gambling Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-03-23
Introduced
2
Cosponsors
S
ⓘ
Type

Sponsor

Adam B. Schiff
Adam B. Schiff
Democrat · CA · Senator
Votes with party: 61.8% (322 recorded votes)

Full profile: /officials/S001150

Source: Congress.gov · FEC

Cosponsors (2)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

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

2026-03-23

Source: Congress.gov

Committee Activity

Currently in

Previously

Plain-English Summary

This bill would classify prediction markets—platforms where people bet money on the outcomes of future events like elections, sports games, or weather—as gambling rather than allowing them to operate under different regulatory frameworks. The change would subject these markets to gambling laws and regulations, potentially restricting who can participate and how they operate. This would affect both the companies running prediction markets and the millions of people who currently use them to place bets on various outcomes.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Sports and Recreation

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4160 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4160 To amend the Commodity Exchange Act to prohibit certain event contracts involving sports and casino-style games. _______________________________________________________________________ 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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