The House of Representatives has seen the introduction of a bipartisan bill that aims to block federally regulated event contracts tied to sports competitions and casino-style games. The proposal, if passed, would amend the Commodity Exchange Act to prevent these contracts from being listed, cleared, or traded through registered entities.
The legislation, which has been referred to the House Committee on Agriculture, carries the title “Prediction Markets Are Gambling Act.” It was introduced by Rep. Steven Horsford, a Democrat from Nevada, and Rep. Mark Amodei, a Republican from Nevada.
The bill creates a new provision in the Commodity Exchange Act that would prohibit agreements, contracts, or transactions connected to sporting events, athletic competitions, or casino-style games from being offered through federally regulated exchanges. This includes a broad range of activities, such as live or virtual contests involving physical activity or skill, including amateur, collegiate, and professional competition where participants’ performances determine an outcome or statistical result.
The legislation also explicitly excludes state laws regulating or prohibiting sports betting or casino-style gambling. Any restriction would apply only to contracts entered into after the measure takes effect.
The House proposal follows similar efforts in the Senate, where a bipartisan bill with the same title was introduced earlier this year. The Senate bill would also prohibit Commodity Futures Trading Commission-regulated exchanges from listing sports prediction contracts.
Additionally, a group of 12 Senate Democrats recently urged committee leaders to strengthen pending digital asset legislation, arguing that prediction markets could undermine tribal gaming protections and state authority if additional safeguards are not added.
The proposals argue that sports-related prediction markets function as gambling and should remain under state and tribal oversight rather than federal commodities regulation. Industry representatives, including prediction market operator Kalshi, have countered that regulated markets provide consumers with a legal alternative and that prohibiting them could drive activity to offshore platforms outside U.S. oversight.
