Schiff and Curtis propose federal restrictions on prediction-market contracts
Senators Adam Schiff and John Curtis introduced a bill on 23 March that would bar CFTC-registered entities from listing event contracts resembling sports bets or casino games. A separate bipartisan proposal would prohibit federal officials and employees from using inside information to trade such contracts; Kalshi chief executive Tarek Mansour criticised the legislation, while DraftKings shares fell 12% during the week, according to the report.
The proposals could restrict contract offerings and prohibit certain government personnel from trading on non-public information.