A bipartisan Senate bill jointly introduced by Senators Adam Schiff and John Curtis aims to prohibit platforms already registered with the Commodity Futures Trading Commission (CFTC), such as Kalshi and Polymarket, from offering sports and casino-style prediction contracts, citing concerns about violations of gambling laws and protecting minors. Meanwhile, chief executives from these competing companies have jointly backed the creation of a new venture capital fund called 5c(c) Capital, with a fund size of $35 million, specifically investing in this sector. Additionally, Fidelity Investments has urged the Securities and Exchange Commission (SEC) to refine rules regarding how broker-dealers handle crypto assets to provide greater legal certainty.