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Sen. Ted Cruz plans to introduce legislation after the midterms that would prohibit federally regulated prediction markets from offering gambling-related event contracts without state or tribal authorization, according to Bloomberg Government.
The Oct. 16 report describes a proposal aimed at preventing platforms from bypassing state gambling laws. No West Virginia-specific change was reported.
Proposal would require state or tribal authorization
Under the proposal described in the report, prediction markets would need authorization from a state or tribal government to provide event contracts tied to gambling activities, including sports betting.
Bloomberg Law obtained details of the planned legislation. However, the available reporting does not provide the bill’s exact text or full scope, including which states or tribal governments would authorize such contracts.
The development is a planned legislative proposal, not a reported change in the rules governing player access.
Federal control faces legislative scrutiny
The proposal comes as the Trump administration asserts federal control over the prediction-market industry. Bloomberg also reports that lawmakers from both parties are expected to intensify efforts targeting platforms such as Kalshi, which operates markets tied to sports and other events.
Cruz’s stated timeline is after the midterms; a specific introduction date was not provided. The bill’s text and introduction would be the next developments to watch for details on its reach and authorization requirements. The report does not establish any change to prediction-market availability in West Virginia.
More from playwv.com – West Virginia joins multi-state push for Supreme Court review of sports prediction markets – State lines still shape BetMGM access and offers for West Virginia online casino players – bet365 launches in West Virginia, becoming state’s 10th online sportsbook
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Source: As reported by news.bgov.com.
