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Congress·In Committee·S. 4060

Sen. Blumenthal Introduces Bill to Regulate Online Prediction Markets and Ban Bets on Elections

Prediction Markets Security and Integrity Act of 2026

10 days ago·View on Congress.gov

Legislative Progress

Senate
House
President
Law

Key Points

  • The bill classifies online prediction markets as gambling and requires states to create oversight programs approved by the Attorney General before any platform can operate. States must designate a regulatory entity, and their programs must be renewed every three years.

    From policy text

    “An online prediction market may not operate in a State unless expressly authorized under a State wagering program that has been approved by the Attorney General under section 6(b)(1).”
    View in full text
  • Certain types of bets are banned outright, including wagers on wars, military actions, death, amateur or college sports proposition bets, and any bets on sporting events once they've started. Platforms also cannot offer listings that are susceptible to manipulation or fraud.

    From policy text

    “An operator of an online prediction market shall not offer listings that-- (1) are susceptible to manipulation or fraudulent activities; (2) relate to war, military action, or death; (3) violate State or Federal law”
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  • The minimum betting age is set at 21, and the bill bans credit card deposits, reload bonuses, VIP programs, and tier reward programs. Platforms cannot use AI to track individual wagers, create targeted offers, or generate gambling products like proposition bets.

    From policy text

    “Prohibit an online prediction market from accepting wagers from any-- (A) individual younger than 21 years of age”
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  • Large bettors face mandatory affordability checks. If someone tries to wager more than $1,000 in a day or $10,000 in a month, the platform must verify the bet doesn't exceed 30% of their monthly income or meets a reasonable lender standard for an unsecured loan.

    From policy text

    “shall be required, before accepting wagers from an individual in an amount that is more than $1,000 during a 24-hour period or $10,000 during a 30-day period, to conduct an affordability check”
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  • A national self-exclusion list will let people voluntarily ban themselves from all prediction market platforms nationwide. This list would be maintained by the Secretary of HHS in cooperation with state regulators.

    From policy text

    “a list (to be known as the `national self-exclusion list') of individuals who, by placing themselves on the list, restrict themselves from placing a wager with an operator of an online prediction market located in any wagering opt-in State”
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  • Advertising for prediction markets is heavily restricted — banned between 8 a.m. and 10 p.m. local time, during live sports broadcasts, and anywhere targeting people under 21. Ads cannot include odds boosts, bonus offers, or instructions on how to place bets.

    From policy text

    “may not be broadcast-- (i) between the hours of 8:00 a.m. and 10:00 p.m. local time; or (ii) during a live broadcast of a sporting event”
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Impact Analysis

Personal Impact

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions
Mar 11, 2026Senate

Read twice and referred to the Committee on the Judiciary.

Mar 11, 2026

Introduced in Senate

What Happens Next

Projected impacts based on AI analysis

180 days after enactment

Attorney General must issue rules defining insider trading for prediction markets and other implementation details

Until these rules are finalized, the specific boundaries of what's legal won't be clear, creating uncertainty for platforms and users alike

6-18 months after enactment

States begin submitting wagering program applications to the Attorney General for approval

Prediction markets cannot legally operate in any state until that state's program is approved, so there could be a blackout period where platforms must shut down. The AG has 180 days to review each application.

Source Information

Document Type

Congressional Bill

Official Title

Prediction Markets Security and Integrity Act of 2026

Bill NumberS 4060
Congress119th Congress
ChamberSenate
Latest ActionRead twice and referred to the Committee on the Judiciary.

Sponsor

Cosponsors

(1)
D: 1

Analysis generated by AI. Always verify with official sources.