What changed
2026-07-27 22:10 UTC → 2026-08-08 03:39 UTC ·
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After the The 2026 FIFA World Cup surge in July 2026, total trading on propelled U.S. prediction‑market platforms exceeded past $50 billion, billion in total trading, with Kalshi adding three million new users and seeing $1.2 billion wagered on its winner contract. contract, while Polymarket recorded handled $4.28 billion on its a winner contract and $5.69 billion on final‑related contracts, raising the contracts. The sector’s share of legal U.S. sports‑betting volume rose to roughly 27 % from about 9 % earlier in the year. The Irish Gambling Regulatory Authority reaffirmed its warning, confirming Kalshi is banned in Ireland and that Polymarket has placed Ireland %. Regulators responded on its restricted‑jurisdiction list. Federal and state legislators moved further. multiple fronts. The National Collegiate Athletic Association NCAA submitted written testimony to the CFTC urging a suspension of collegiate‑sports prediction markets and a mandatory 21‑plus age floor; the testimony was cited in a House Subcommittee hearing on July 21. In Pennsylvania, Pennsylvania’s bipartisan House Bill 2711, introduced 2711 (introduced July 22, 22) would prohibit bar gambling companies such as DraftKings and Flutter from acting as liquidity providers or market makers on prediction‑market platforms, enforce a 21‑plus age limit, providers, impose a combined 22 % tax, combined tax and require licensing under the state Attorney General’s authority. These steps build on earlier actions—the Senate’s ban on licensing. The Senate banned member trading, the White House warning to federal employees, trading and, together with the bipartisan GAME Act’s youth‑targeted Act, moved to prohibit advertising restrictions, and that targets minors. Health officials, led by the CFTC’s proposed prohibition of contracts tied Texas Medical Association, called for age‑21 limits, advertising bans near schools and restrictions on celebrity endorsements. Congressional scrutiny deepened after insider‑trading cases involving a soldier and a campaign staffer; Rep. Ritchie Torres introduced legislation to wars, terrorism bar campaign staff from betting on their own races, and assassinations—signaling a tightening regulatory environment as bipartisan letter urged a full House ban. In June, ProPublica revised its newsroom ethics code to forbid any employee betting on news events. Traditional gambling groups, via the American and Native American Gaming Associations, petitioned the Senate to add an explicit prohibition on cryptocurrency‑based prediction markets expand into sports, entertainment to the CLARITY Act and other sectors. challenged CFTC jurisdiction. An industry audit revealed $520 million spent on celebrity endorsements in 2025 versus only $60 million on responsible‑gambling messaging, prompting the American Gaming Association to warn of a broader regulatory crackdown. In August, the CFTC issued a notice requiring platforms to abandon American‑style money‑line odds, citing consumer‑protection concerns.