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Lawmakers Propose BETS OFF Act to Ban Sensitive Prediction Markets

3/19/2026

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Summary

Story summary

Democratic lawmakers Rep. Greg Casar and Sen. Chris Murphy introduced the BETS OFF Act to ban prediction market trading on terrorism, war, and other sensitive topics.
The lawmakers note prediction markets are growing in popularity, with over $105 million wagered on the Oscars this year.
The BETS OFF Act would amend laws to restrict payments to offshore platforms and impose penalties for domestic promotion of these markets.

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Story summary

Democratic lawmakers Rep. Greg Casar and Sen. Chris Murphy introduced the BETS OFF Act to ban prediction market trading on terrorism, war, and other sensitive topics.
The lawmakers note prediction markets are growing in popularity, with over $105 million wagered on the Oscars this year.
The BETS OFF Act would amend laws to restrict payments to offshore platforms and impose penalties for domestic promotion of these markets.