Schiff, Curtis Introduce Bipartisan Bill to Curb Prediction Market Gambling and Restore Tribal Authority

A bipartisan group of U.S. senators is moving to curb the expansion of sports betting and casino-style gambling through prediction markets, introducing legislation aimed at restoring regulatory authority to states and tribal governments.

On Monday, Sens. Adam Schiff (D-CA) and John Curtis (R-UT) unveiled the Prediction Markets Are Gambling Act. The bill would amend the Commodity Exchange Act to prohibit entities registered with the Commodity Futures Trading Commission (CFTC) from offering contracts tied to sports betting or casino-style gambling. The legislation is expected to be referred to the Senate Agriculture Committee.

The measure has drawn strong backing from tribal gaming leaders. David Bean, chairman of the Indian Gaming Association, said the proposal “will reaffirm existing tribal and state government authority to regulate sports betting, limit online gambling, or in some cases – continue to prohibit all forms of gambling.” Bean added, “The bill will also quiet the chaos and federal overreach that the CFTC is fostering. Other than the growing number of court decisions siding with tribes and states, prediction market platforms have seen no accountability and no oversight, as they disregard clearly established regulations while exposing consumers to unchecked gambling. We look forward to working with leaders in Congress to hold these platforms accountable to protect consumers, sports integrity, and tribal and state sovereignty.”

The push for new legislation comes amid shifting federal enforcement. In 2011, the CFTC adopted regulations explicitly barring registered entities from listing contracts that “involves, relates to, or references terrorism, assassination, war, gaming, or an activity that is unlawful under any State or Federal law.” However, in January 2025, the agency dropped federal court appeals challenging prediction market platforms, effectively halting enforcement of its own rules.

Since his Senate confirmation, CFTC Chairman Michael Selig has taken steps that critics say encourage the growth of online sports gambling through prediction markets. As the agency’s sole commissioner, Selig has filed legal briefs opposing efforts by state and tribal governments to block such activity and has announced plans to pursue rulemaking that could weaken existing restrictions.

Despite representing states with very different approaches to gambling, Schiff and Curtis have found common ground on the issue. California, which Schiff represents, is home to a large and tightly regulated tribal gaming industry and currently prohibits all forms of sports betting. Utah, represented by Curtis, bans all gambling outright under criminal law. Still, both senators agree on the need to reassert tribal and state control over gambling policy in the face of expanding prediction market platforms.

The full text of the Prediction Markets Are Gambling Act is available here. 

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