Senator Adam Schiff, D-CA, participates in a pad and pen meeting with reporters at the U.S. Capitol on November 6, 2025, in Washington, D.C.
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California Sen. Adam Schiff is spearheading a bipartisan effort to prohibit prediction markets from allowing sports betting.
The legislation, introduced Monday, seeks to stop the federally regulated platforms from allowing wagers that resemble a sports bet or casino-style game. These platforms, or online prediction markets, have surged in the past year. They offer yes or no wagers tied to sports, politics and pop culture.
Schiff, who proposed the bill alongside Sen. John Curtis, a Republican from Utah, called these sports prediction contracts merely sports bets “with a different name.”
“And yet, these contracts have been offered in all fifty states in clear violation of state and federal law,” Schiff said in a statement. “It’s time for Congress to step in and eliminate this backdoor which violates state consumer protections, intrudes upon tribal sovereignty, and offers no public revenue.”
The bill comes as states are trying to grapple with the explosion of prediction markets, like Polymarket and Kalshi. The markets are regulated by the Commodity Futures Trading Commission, which Schiff said is “greenlighting” and promoting their growth.
Last week, a judge in Nevada dealt a temporary ban to Kalshi for certain event-based bets. The state of Arizona also filed criminal charges earlier in the month against Kalshi, accusing it of operating an illegal gambling business.
Last week, Major League Baseball announced a multi-year deal with Polymarket to make it the league’s official and exclusive prediction market exchange partner.
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Mathew Miranda is a political reporter for The Sacramento Bee’s Capitol Bureau, covering how decisions in Washington, D.C., affect the lives of Californians. He is a proud son of Salvadoran immigrants and earned degrees from Chico State and UC Berkeley.