US Senator Jeff Merkley and US Representative Jamie Raskin introduced a bill targeting prediction markets, according to the report. The available text does not provide the bill’s provisions or further details.
The proposal could affect prediction-market operators if enacted, but its scope is not specified in the available report.
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Missouri Attorney General Catherine Hanaway plans to pursue cease-and-desist measures targeting prediction market operators. Hanaway wants the companies to comply with Missouri gaming legislation and pay gambling taxes, and said she would sue if they do not.
Heartland News was told by Missouri's attorney general, Catherine Hanaway, that her office is getting ready to issue a cease-and-desist action aimed at prediction market companies doing business in the state. In her view, sports event contracts count as gambling under Missouri law, and she said the way prediction markets and traditional sportsbooks arrange their fees makes no difference to that conclusion.
Eight Democratic senators urged the CFTC to prevent prediction-market platforms from offering contracts tied to wildfires. In a letter to chair Michael Selig, they cited public-safety and insider-trading risks and referred to more than $1.2 million in Polymarket bets linked to the Palisades and Eaton fires in January 2025.
Nine Democratic senators asked the CFTC to reject wildfire-related event contracts, warning the products could create a financial incentive for arson. The group is led by Senator Jeff Merkley (D-Ore.), as wildfires continue across Oregon and the Pacific Northwest.
A group of 17 Democratic senators urged appropriators to block the CFTC from using federal funds to challenge state gambling laws and compacts involving online prediction markets. Their proposed restriction would apply to the fiscal 2027 funding bill, following CFTC lawsuits against nine states, according to the senators’ letter.
Democratic lawmakers led by Senator Jeff Merkley urged the CFTC to issue rules against insider trading and restrict event contracts involving elections, military activity, government actions and sports. Their letter named Kalshi and Polymarket and called for limits on contracts without a valid economic hedging interest. The CFTC’s consultation on rulemaking was due to close Thursday, the report said.