Prediction Markets Are Gambling Act

This bill, titled the Prediction Markets Are Gambling Act, prohibits the listing, clearing, or trading of contracts related to sports events or casino-style games on regulated financial exchanges. It directly affects platforms and entities that currently operate prediction markets by banning them from offering bets on outcomes like professional sports matches or casino games such as roulette and blackjack. The law achieves this by amending the Commodity Exchange Act to explicitly define these activities as prohibited agreements, while also clarifying that state laws regulating such contracts remain unaffected. Essentially, the legislation removes the ability for federally registered markets to facilitate gambling on sports and traditional casino games.