Prediction Markets Are Gambling Act

Steven Horsford

Democrat · NV · Representative

Source: Congress.gov · FEC

• Mark E. Amodei (R-NV-2)Original· 2026-07-22

Referred to the House Committee on Agriculture.

2026-07-22

Source: Congress.gov

The legislation would classify prediction markets—platforms where people bet money on the outcomes of future events like elections, sports, or economic indicators—as gambling rather than allowing them to operate under current financial regulations. This would subject these markets to gambling laws and oversight, potentially restricting their operation or requiring special licensing, which would affect both the companies running these platforms and the millions of people who currently participate in them.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 9856 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 9856 To amend the Commodity Exchange Act to prohibit certain event contracts involving sports and casino-style games. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 22, 2026 Mr. Horsford (for himself and Mr. Amodei of Nevada) introduced the following bill; which was referred to the Committee on Agriculture _______________________________________________________________________ A BILL To amend the Commodity Exchange Act to prohibit certain event contracts involving sports and casino-style games. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Prediction Markets Are Gambling Act''. SEC. 2. 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. <all>

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