Merkley-Raskin Bill Would Ban Election and Sports Contracts on US Exchanges

Senators Jeff Merkley and Bernie Raskin introduced a March 26 bill that would bar U.S. exchanges from listing election, sports, and government-action contracts, with a commercial-hedging carve-out to be defined by the CFTC. The proposal remains in committee and would directly affect prediction-market platforms such as Kalshi and Polymarket should it advance. The bill's scope hinges on how the CFTC writes the hedging exception, making the agency's rulemaking the next key milestone to watch.