Murkowski and Schatz press CFTC to consult tribes on prediction markets rule
Senators Murkowski and Schatz urged the Commodity Futures Trading Commission (CFTC) to consult with tribal governments and extend the deadline on a proposed prediction markets rule. The proposal asserts the CFTC's exclusive jurisdiction over event contracts involving gaming and sporting events. The senators raised concerns that the rule raises consequential questions for tribal regulation of such events and that tribal input has not been adequately sought.
The senators' intervention extends the fight beyond the four major sports leagues and two congressional chambers already aligned against Kalshi and Polymarket. Tribal governments operate gaming compacts that CFTC preemption could override, so their entry adds a sovereignty dimension that courts and Congress weigh heavily.
For the platforms, this means another constituency with standing to slow or reshape the June proposal before it finalizes. The comment period is now the contested terrain where tribal, league, and platform arguments compete for the CFTC's ear. A forced extension would delay any federal clarity and leave state injunctions in force longer. That prolongs the voiding risk for traders and the geofencing burden for operators.