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Senator Ted Cruz floats prediction markets bill to shift gambling-type contracts to state-level oversight, TheLines reports
- Senator Ted Cruz floats prediction markets bill to shift gambling-type contracts to state-level oversight, TheLines reports — TheLines reported on October 23 that Senator Ted Cruz plans a prediction markets bill that would ban providers such as Kalshi and Polymarket from offering gambling-type contracts, while exempting providers approved by a state or tribal government. Genuine commodity swaps such as crops or oil would remain under federal jurisdiction, shifting the core decision to state governments. (TheLines)
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