US lawmakers consider state rules and federal limits for prediction markets
Lawmakers in Iowa, New York, Hawaii and Illinois are considering measures on prediction markets, while Connecticut Governor Ned Lamont has proposed barring use by people under 21. US Representative Dina Titus introduced a federal bill to amend the Commodity Exchange Act; Kalshi argues that sports event trades fall under federal regulation, while the CFTC’s chair said the agency may challenge states and develop event-contract rules.
The proposals could alter how prediction markets interact with state gambling laws and federal oversight.