On July 22, 2026, Pennsylvania lawmakers introduced HB 2711, which aims to create a new regulatory framework for prediction markets, as opposed to the wider trend in U.S....
Nevada Congressmen have introduced a bipartisan bill seeking to ban sports prediction market contracts, arguing that they resemble sports betting and casino-style gambling.
Congressmen Steven Horsford and Mark Amodei proposed the Prediction Markets are Gambling Act in an effort to prevent CFTC-regulated prediction platforms from offering sports event trading; however, it would allow other markets connected to economics or politics.
Congressman Amodei commented:
“Gaming policy has long been the responsibility of states and tribes, not unelected federal regulators. This bipartisan bill closes a federal loophole that allows sports betting to masquerade as financial trading and ensures legitimate event contracts remain under the CFTC’s jurisdiction.”
According to the bill, any kind of sports betting should be considered gambling and shouldn’t be disguised as an event contract regulated by the CFTC. Moreover, the proposal stresses that the federal government can’t override state and tribal laws, especially since gambling regulations have traditionally been under state supervision.
Congressman Horsford added:
“This is about protecting jobs, protecting consumers, and protecting the integrity of our gaming industry. Nevada has always been the gold standard for gaming regulations. These companies are exploiting a federal loophole that allows them to effectively sidestep state oversight that every other legal sportsbook must follow.”
Among the supporters of the bill are Senator Schiff, Senator Curtis, and the American Gaming Association (AGA).
