NEW YORK (AP) — Kalshi and Polymarket, the two biggest prediction market platforms, rushed to institute new industry guardrails and add new surveillance tools on Monday after two key senators announced legislation that could severely curtail the industry’s prospects. Polymarket, in particular, has faced intense criticism after some of its users made substantial bets ahead of the war in Iran and the military action in Venezuela, earlier this year. While Sen. Schiff and Sen. Curtis are not the first politicians to propose a broad ban on the activities of prediction markets, the fact that both political parties are becoming skeptical of them is a cause of alarm for the industry.
Author: Associated Press
Published at: 2026-03-23 22:20:29
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