U.S. Senators Target Polymarket’s Sports and Gaming Contracts in New Bill

New updates have been reported about Polymarket.

A new bipartisan bill introduced by Senators Adam Schiff and John Curtis directly targets prediction markets such as Polymarket, aiming to bar them from offering real-money sports wagers and casino-style products under federal commodities law. The proposal exploits the fact that Polymarket is regulated by the Commodity Futures Trading Commission, carving it out from the state-by-state gambling framework that governs major sportsbook operators and potentially stripping it of access to one of the fastest-growing segments of online wagering.

If enacted, the legislation would materially constrain Polymarket’s product scope in the U.S., limiting its ability to compete for sports-driven volume that has become a major growth engine across the broader betting industry. The move underscores rising political and regulatory scrutiny of online wagering, driven in part by research showing sharp increases in problem-gambling queries after online sportsbooks launch, and signals that prediction markets may increasingly be treated like conventional gambling businesses rather than financial platforms, raising strategic, compliance, and revenue-risk considerations for Polymarket and its investors.