# Curtis-Schiff Prediction Markets Are Gambling Act

**Type:** Federal legislation  
**Status:** Senate bill (as of March 2026)  
**Sponsors:** Sen. Curtis (R-Utah), Sen. Schiff (D-California)  
**Domain:** Prediction market regulation

## Overview

Bipartisan Senate legislation introduced March 23, 2026 to explicitly prohibit CFTC-registered platforms from listing sports and casino-style prediction market products. Would codify state gaming commissions' position into federal law by defining sports event contracts as gambling products requiring state gaming licenses rather than CFTC registration.

## Key Provisions

- **Scope:** Applies to CFTC-registered Designated Contract Markets (DCMs)
- **Definition:** Classifies sports event contracts as gambling products, not derivatives/swaps
- **Licensing:** Would require state gaming licenses instead of CFTC registration
- **Exclusions:** Does NOT explicitly address on-chain prediction markets or blockchain-based futarchy governance markets

## Political Context

- **Bipartisan support:** Republican Curtis (Utah) + Democrat Schiff (California) breaks partisan framing of prediction market debates
- **Utah angle:** Curtis represents non-gaming state, suggesting opposition extends beyond state revenue protection
- **Timing:** Filed three weeks after Arizona criminal charges (March 17, 2026), during peak state-federal jurisdictional conflict
- **Industry context:** American Gaming Association had just released $600M state tax revenue loss data

## Legislative Status

- Senate bill as of late March 2026
- No House companion bill identified
- Would need to pass both chambers and overcome potential presidential opposition (Trump administration has been pro-prediction market)

## Timeline

- **2026-03-23** — Bill introduced in Senate by Curtis and Schiff

## Connections

- Targets platforms: [[kalshi]], [[polymarket]]
- Related litigation: Arizona criminal charges (March 17, 2026)
- Industry opposition: American Gaming Association
- Regulatory context: [[cftc]] exclusive jurisdiction claims

## Sources

- MultiState legislative tracking (March 2026)
- inbox/queue/2026-03-23-curtis-schiff-prediction-markets-gambling-act.md