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

This bill targets the core growth area for prediction markets on regulated US exchanges, where election and sports contracts have driven volume. The commercial-hedging exception, left to the CFTC to define, is the pivotal detail: a narrow reading could hollow out the product, while a broad one preserves room for event contracts tied to real economic exposure. With the proposal still in committee, the open question is whether it gains traction or signals a broader legislative push against event-based derivatives.