S. 4160Senate119th Congress (2025-2027)In Committee

Prediction Markets Are Gambling Act

AI-Generated Summary

Updated April 2, 2026 at 5:52 AM UTC

The Prediction Markets Are Gambling Act would change the Commodity Exchange Act to bar prediction‑type contracts that involve sports contests or casino‑style games from being listed, cleared, or traded on any registered exchange. It defines what counts as a "casino‑style game" and a "sporting event or athletic competition," and makes the ban effective for any such contracts created after the law takes effect. The measure does not override any state laws that already regulate or forbid these contracts.

Key Provisions

Adds a new subsection to the Commodity Exchange Act that defines "casino‑style game" (e.g., slots, blackjack, roulette, bingo, lottery) and "sporting event or athletic competition" (any live or virtual contest with physical skill, including amateur, collegiate, and professional sports).
Prohibits any agreement, contract, or transaction related to those defined events from being listed, cleared, or traded through a registered exchange or clearinghouse.
Specifies that the prohibition applies only to contracts entered into on or after the law’s enactment date.
Clarifies that the federal ban does not preempt any state laws that already regulate or ban such contracts.

Legislative Activity

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1 earlier action

SenateIntro Referral Latest Action

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Agriculture, Nutrition, and Forestry Committee

March 23, 2026

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SenateIntro Referral

Introduced in Senate

March 23, 2026

SenateIntro Referral

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Agriculture, Nutrition, and Forestry Committee

March 23, 2026

Bill Text

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Introduced in SenateIssued March 23, 2026

119th CONGRESS

2d Session

S. 4160

IN THE SENATE OF THE UNITED STATES

March 23, 2026

Mr. Schiff (for himself, Mr. Curtis, and Ms. Cortez Masto) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry

A BILL

To amend the Commodity Exchange Act to prohibit certain event contracts involving sports and casino-style games.

Short title

This Act may be cited as the Prediction Markets Are Gambling Act.

Prohibition on certain event contracts involving sports and casino-style games

(a)

Amendment to the Commodity Exchange Act

Section 5c(c) of the Commodity Exchange Act (7 U.S.C. 7a–2(c)) is amended by adding at the end the following:

(6)

Prohibition on sporting and casino-style event contracts

(A)

Definitions

In this paragraph:

(i)

Casino-style game

The term casino-style game means any game traditionally found in a casino, including slot machine games, video poker, blackjack, roulette, craps, any other casino-style table game, bingo, lottery, and any simulation of any of those games.

(ii)

Sporting event or athletic competition

The term sporting event or athletic competition means any live or virtual contest involving physical activity or skill in which individuals or teams compete and performance determines an outcome or statistical result, including amateur, collegiate, and professional sports.

(B)

Prohibition

Notwithstanding any other provision of this section, no agreement, contract, or transaction relating to any sporting event or athletic competition or any casino-style game may be listed or made available for clearing or trading on or through a registered entity.

(C)

Rule of construction

Nothing in this Act shall be construed to preempt any State law or rule that regulates or prohibits any agreement, contract, or transaction relating to any sporting event or athletic competition or any casino-style game.

(b)

Applicability of prohibition

Paragraph (6)(B) of section 5c(c) of the Commodity Exchange Act (7 U.S.C. 7a–2(c)) (as added by subsection (a)) shall apply to any agreement, contract, or transaction entered into on or after the date of enactment of this Act.