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Murphy and Casar introduce bill to ban wagers on sensitive events

Regulation

US Senator Chris Murphy and Representative Greg Casar introduced the BETS OFF Act on Tuesday, proposing a ban on wagers tied to government actions, terrorism, war, assassination and events whose outcomes a person knows or controls. The proposal would also target payment systems used by illegal online operators and people in the US who promote or help run them, the lawmakers said.

The bill could prohibit prediction-market contracts on specified events and expose platforms and intermediaries to enforcement action.

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Regulation

Nevada lawmakers introduce federal bill to ban sports event contracts

US Representatives Steven Horsford and Mark Amodei introduced the Prediction Markets Are Gambling Act, a bipartisan federal bill to bar federally regulated exchanges from offering sports and casino-style event contracts. According to the Las Vegas Sun, the measure targets platforms such as Kalshi and Polymarket and states that federal law does not pre-empt state or tribal gaming authority. Horsford said the platforms have cost states more than $1bn in lost gaming tax revenue.

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