A bipartisan bill introduced by Senators Jeff Merkley and Rep. Jamie Raskin would prohibit federally registered prediction market exchanges from offering election, sports, and military contracts. The proposal specifically targets US-regulated platforms including Kalshi and Polymarket's US operations rather than imposing a global ban on all prediction markets. The legislation remains in committee and has not yet advanced to a floor vote. If enacted, it would restrict the types of contracts available on CFTC-registered exchanges operating within US jurisdiction.