Investing.com — UK-listed gambling stocks surged on Monday after U.S. senators introduced bipartisan legislation that would ban prediction market platforms from offering sports betting contracts, the Wall Street Journal reported.
As of 08:25 ET (12:25 GMT), , owner of U.S. sports betting giant FanDuel, jumped 7.6%, while London-listed rival , parent of Ladbrokes and BetMGM, climbed 6.4%.
The WSJ reported that Senators Adam Schiff and John Curtis plan to introduce legislation barring CFTC-regulated entities, including Kalshi and Polymarket, from offering contracts tied to sporting events or casino-style games.
Kalshi has reported sports betting accounting for roughly 90% of its trading volumes. Operating as federally regulated exchanges, the platforms have sidestepped state gambling licensing requirements, a structural advantage that had weighed on traditional operators’ share prices on both sides of the Atlantic for months.
Legal pressure is also mounting at the state level. Arizona filed a 20-count criminal case against Kalshi, while cease-and-desist orders have been issued by 11 states.
Flutter’s FanDuel commands approximately 43% of the U.S. sports betting market. Entain’s joint venture BetMGM posted $2.8 billion in revenue in 2025.