What does Preamble of Prediction Markets Are Gambling Act do?

This bill proposes to amend the Commodity Exchange Act. The proposed amendment aims to prohibit certain event contracts. These event contracts involve sports and casino-style games.

What does SHORT TITLE. of Prediction Markets Are Gambling Act do?

This bill is formally titled the 'Prediction Markets Are Gambling Act'.

What does PROHIBITION ON CERTAIN EVENT CONTRACTS INVOLVING SPORTS AND of Prediction Markets Are Gambling Act do?

This section amends the Commodity Exchange Act to prohibit agreements, contracts, or transactions related to sporting events or casino-style games from being listed or cleared through registered entities. The definition of 'casino-style game' includes games traditionally found in casinos, such as slot machines, video poker, blackjack, roulette, craps, bingo, and lotteries. A 'sporting event or athletic competition' is defined as any live or virtual contest involving physical activity or skill where performance determines an outcome. The prohibition applies to agreements entered into on or after the date of enactment of this Act. The Act clarifies that it does not preempt state laws or rules that regulate or prohibit such agreements, contracts, or transactions.

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Prediction Markets Are Gambling Act

Last updated: 3/23/2026 · Introduced: 3/23/2026

Author: Adam Schiff (D-CA)

TL;DR (AI)

This bill amends the Commodity Exchange Act to prevent agreements related to sporting events or casino-style games from being listed or cleared by registered entities.
The legislation defines 'casino-style game' to include games like slot machines and roulette, and 'sporting event' to encompass both live and virtual contests.
This Act does not override existing state laws that regulate or prohibit these types of agreements, contracts, or transactions.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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