Senators Target Sports Prediction Markets in Bipartisan Bill
U.S. lawmakers are taking aim at the rapidly expanding event-based trading sector. Senators Adam Schiff (D-CA) and John Curtis (R-UT) have introduced a bipartisan bill designed to outlaw sports prediction markets. According to reports from the Wall Street Journal, the legislation specifically seeks to ban sports betting and casino-style contracts on prediction platforms. The legislative move has already drawn strong condemnation from at least one of America's top prediction market platforms.
Rival CEOs Unite to Back $35M "5c(c) Capital" Fund
Despite looming regulatory pressures in Washington, the industry's top executives are funding the next generation of event-based trading startups. The CEOs of rival platforms Kalshi and Polymarket are jointly backing a new venture fund, called 5c(c) Capital, which is currently aiming to raise $35 million. For traders monitoring the ecosystem via predictionmarketstools.com, this rare collaboration between the heads of the two largest prediction platforms signals strong institutional confidence in the sector's underlying technology and long-term growth trajectory.
Polymarket Tightens Safeguards Against Insider Trading
In a parallel move toward regulatory alignment and market fairness, Polymarket has updated its platform policies. The prediction bourse is rolling out stricter trading safeguards and market limits across its ecosystem. The new rules are explicitly designed to curb market manipulation and mitigate insider trading risks, addressing ongoing concerns over fairness as the platform seeks broader mainstream and regulatory acceptance.