Sen. Blumenthal Introduces Bill to Regulate Online Prediction Markets and Ban Bets on Elections
A senate committee must act next: committee consideration.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
Operators of prediction market platforms face sweeping new compliance burdens: state-by-state licensing, background checks for executives, annual employee criminal checks, real-time data sharing with regulators, six-year recordkeeping requirements, reserve requirements, and affordability check systems. The strict suitability standards could disqualify many current operators, especially those with any history of accepting wagers that violated state laws.
“provide that a prospective online prediction market shall not be determined to be suitable for licensing as an online prediction market if the operator of the prospective online prediction market-- (i) has failed to provide information and documentary material for a determination of suitability”
Read twice and referred to the Committee on the Judiciary.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Sen. Richard Blumenthal and Sen. Andy Kim introduced the 'Prediction Markets Security and Integrity Act,' which would ban wagers on war and death, prohibit insider trading, and require state-level oversight programs approved by the Attorney General to ensure platform safety and fairness.
The proposed Prediction Markets Security and Integrity Act aims to treat prediction markets as gambling, setting a minimum age of 21 and banning the use of AI for targeted advertising. The bill faces a tough path in a Republican-controlled Senate despite growing concerns over market integrity.
Legislation proposed by Sens. Blumenthal and Kim would return regulatory oversight of prediction markets to the states, requiring AG approval for wagering programs. The bill also bans live betting on amateur sports and prohibits the use of nonpublic information for wagering.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
Prediction Markets Security and Integrity Act of 2026
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