A bipartisan group of lawmakers plans to introduce legislation that would ban sports betting on prediction markets including Polymarket and Kalshi.
U.S. lawmakers are set to introduce a bipartisan bill that would prohibit sports betting on prediction markets such as Polymarket and Kalshi, according to reporting from The Wall Street Journal. The legislative action targets the growing use of decentralized and offshore prediction platforms for wagering on sporting events.
Polymarket and Kalshi are among the largest prediction market platforms, with Polymarket operating on the Polygon blockchain and Kalshi operating as a regulated U.S.-based platform. The move reflects ongoing regulatory scrutiny of prediction markets and sports betting activities outside traditional regulated channels.
Sources: WSJ | The Block
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