US senators are to introduce a bipartisan legislation on Monday to prohibit entities regulated by the CFTC, including prediction-market exchanges Kalshi and Polymarket’s US platforms, from listing contracts related to sporting events, WSJ reports

The introduction of bipartisan legislation to restrict regulated entities from offering contracts on sporting events signals a tightening of regulatory oversight in prediction markets. This move could have significant implications for platforms like Kalshi and Polymarket as it may restrict their business models and limit participation, potentially impacting investor sentiment and driving volatility in associated commodities or equities. Traders should monitor how this regulatory environment evolves and the broader implications for market structure.