A look at the bills to rein in prediction markets

Prediction markets such as Kalshi and Polymarket are coming under scrutiny as they gain popularity, and members of Congress have introduced a number of bills in recent weeks to rein them in.

The markets, which allow users to wager money on event contracts for things ranging from sports games to geopolitics, have been criticized recently over accusations of insider trading. Some states have sued them over the claim that the contracts are akin to gambling and skirt gaming laws.