Davis Polk partner Gabe Rosenberg was quoted in American Banker discussing a pair of bills introduced in Congress to regulate prediction markets. 

Gabe said, “The predictions market industry in the U.S. has largely operated off of the assumption that its state-level legal battles would inevitably make their way to the Supreme Court and be settled there. The possibility of legislation throws that into doubt and adds an entirely new dimension to the issue.”

The article noted that the CFTC issued an advanced notice of proposed rulemaking for regulating prediction markets earlier this month. 

“Given the uncertainty of the legislative process, I expect that the CFTC will continue on its prediction market rulemaking path unless and until it is clear that Congress is going to act,” Gabe said. 

“Congress introduces bills to restrict prediction markets,” American Banker (March 25, 2026) (subscription required)

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