News Summary

• The two measures attempt to set the stage for a potential US Supreme Court battle over federal and state jurisdiction.
• Several states have sued prediction-market operators, including Kalshi and Polymarket, alleging illegal gambling.
• The CFTC has countersued to defend its federal jurisdiction over event contracts, which it claims are beyond the purview of state regulators.
• Both measures, filed on Friday, carry 30-day comment windows and are expected to be voted on by the end of the month..