Kalshi and Polymarket rush to update their policies after realizing that Congress could destroy them

Kalshi and Polymarket, the two biggest prediction market platforms, rushed to institute new industry guardrails and add new surveillance tools on Monday after two key senators announced legislation that could severely curtail the industry’s prospects.

Kalshi said it would ban political candidates from trading on their own campaigns, and it would preemptively block anyone involved in college or professional sports from trading contracts related to the sports they play or are employed by.