Merkley-Raskin Bill Would Ban Election and Sports Contracts on US Exchanges
AI summary
A bill introduced March 26 by Senators Merkley and Raskin would ban election, sports and US government-action contracts on US exchanges, with a commercial-hedging exception defined by the CFTC. The proposal remains in committee, so it is not law, but it targets the event-contract products that venues like Kalshi and Polymarket have pushed into the US. Traders in prediction markets should watch for committee movement, since a ban would remove a fast-growing product line from regulated exchanges.
