McCormick and Gillibrand introduce Prediction Market Act

8 articles · Updated · Fox News · May 6

McCormick said prediction-market volume topped $60bn in three-and-a-half months this year, after $51bn in 2025, with 865,000 active users in March and 192 million transactions.
The bill would tighten consumer protections, increase scrutiny of event contracts, and bar public officials from owning contracts tied to events they can influence.
It aims to give the CFTC a clearer framework as retail participation surges, while lawmakers, regulators and courts continue debating issues including sports-related contracts.

As insider trading plagues prediction markets, can new US laws actually safeguard them from exploitation?

Will new regulations make the US a leader in prediction markets or drive the $1 trillion industry offshore?

Retail investors consistently lose money in these markets. Can new legislation truly protect the average user?