Flutter Entertainment Plc ( FLUT ) shares are trading higher Monday after reports suggesting that some U.S. Senators plan to submit a bill today that would ban CFTC-regulated enterprises, including prediction markets, from offering wagers on sporting events.

Flutter stock is charging ahead with explosive momentum. Why is FLUT stock up today?

Bipartisan Bill Targets Sports Betting On Prediction Markets

According to The Wall Street Journal, a bipartisan group of senators is introducing legislation to prohibit entities regulated by the CFTC, including prediction-market platforms such as Kalshi and Polymarket's U.S. platform, from listing contracts tied to sporting events.

Sen. Adam Schiff said the bill aims to eliminate what he described as a "backdoor" that violates state consumer protections, intrudes on tribal sovereignty and generates no public revenue. Sen. John Curtis said the legislation is intended to address concerns about exposure to sports betting and casino-style gaming contracts.

The bill would also seek to ban "casino-style games" on these platforms, including slot machines, blackjack, video poker and bingo.

Prediction markets currently offer yes-or-no wagers across a range of topics, with a significant portion of activity tied to professional and college sports, placing them in competition with traditional betting operators such as FanDuel and DraftKings.

The proposed legislation could benefit traditional sportsbook operators such as Flutter by limiting competition from prediction-market platforms that offer similar sports-related wagering products.

Flutter Shares Rise

FLUT Price Action: At the time of publication, Flutter shares are trading 10.29% higher at $115.60, according to data from Benzinga Pro.

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