A pair of bipartisan senators on Wednesday said they’re keeping their push to ban sports prediction market contracts, despite Kalshi and Polymarket announcing new insider-trading restrictions on their platforms.
“It’s got to be more than an aspirational statement by these companies,” Sen. Adam Schiff, D-Calif., told CNBC’s “Squawk Box” when asked about those platforms’ self-imposed new rules.
Kalshi on Monday said it would preemptively block politicians, athletes and “other relevant people” from betting on their own campaigns or sporting events.
The same day, Polymarket announced it would impose its own guardrails to address insider trading and market manipulation.
The new restrictions came as Schiff and Sen. John Curtis, R-Utah, introduced legislation that would give states, rather than federal regulators, control over sports betting and casino-style games.
