11 U.S. Democratic senators urge Senate Banking Committee to hold hearings on prediction markets

September 24 — Eleven Democratic senators on the U.S. Senate Banking Committee are urging Committee Chairman Tim Scott to hold a hearing on prediction markets.

This comes after the committee plans to hold a Republican-only prediction markets roundtable next week. The roundtable will focus on securities-based prediction markets, and a Kalshi representative is expected to attend.

Currently, the primary regulatory authority over prediction markets lies with the Senate Agriculture Committee and the Commodity Futures Trading Commission (CFTC). The Banking Committee's planned discussion is seen as a move to further involve itself in the prediction markets issue.