Digital betting heavyweight DraftKings (DKNG) gained momentum on Monday, March 23, with shares rising 1.2% after reports of a bipartisan U.S. bill targeting prediction markets. The proposal aims to restrict contracts that mimic sports betting, tightening the blurred line between event trading and regulated gambling markets across jurisdictions.
The legislation, led by Nevada Representative Dina Titus, focuses on platforms like Kalshi and Polymarket. These firms list detailed contracts tied to sports outcomes while operating under federal financial rules, avoiding the state-level frameworks that govern traditional sportsbooks and enforce stricter compliance standards.
