NEW YORK (AP) — 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.
In a statement, a Kalshi spokesperson said the company's new features “further demonstrate our commitment to safe markets.”
Polymarket also instituted its own set of bans and rules. The company rewrote its rules to say clearly that users cannot trade on contracts where they might possess confidential information or could influence the outcome of an event. This would include athletes but could also include company officials, policymakers or anyone who would have enough influence to affect the outcome of an event or know the information in advance.
“These rule enhancements make our expectations abundantly clear for every participant across both platforms," said Neal Kumar, Polymarket's chief legal officer, in a statement.
Polymarket, in particular, has faced intense criticism after some of its users made substantial bets ahead of the war in Iran and the military action in Venezuela, earlier this year. Those users appeared to have profited handsomely from knowing in advance that President Donald Trump was going to take military action in those regions.
Sen. Adam Schiff, D-Calif., and Sen. John Curtis, R-Utah, introduced broad legislation called the “Prediction Markets are Gambling Act,” on Monday that would ban prediction markets from creating contracts related to sports. While prediction markets allow users to bet on everything from the weather to political events, much of their recent growth has been in sporting events. The bill, if enacted, would substantially destroy much of Kalshi and Polymarket's future business prospects. Both companies have signed business deals with several sports teams and leagues in order to bolster their credibility with sports fans.
Sen Curtis' home state of Utah has been particularly aggressive in trying to keep Kalshi and Polymarket out of its state. Gov. Spencer Cox recently signed legislation that would expand the state's definition of gambling to include what are known as “prop bets."
Shares of the parent company of FanDuel and DraftKings rose sharply on Monday after the senators’ announcement.
While Sen. Schiff and Sen. Curtis are not the first politicians to propose a broad ban on the activities of prediction markets, the fact that both political parties are becoming skeptical of them is a cause of alarm for the industry. Several states have preemptively banned Kalshi and Polymarket, saying that the platforms effectively are a sports betting industry with a technological twist. While Kalshi has tried to sue to get its platform allowed in certain states, like Nevada and Utah, it has found little success so far.
Kalshi and Polymarket have found backing from the Trump-controlled Commodity Futures Trading Commission, the federal regulator of derivatives and other prediction markets activities. The CFTC’s chairman, Michael Selig, has said he would back Kalshi in any of its legal battles at the state level, arguing that federal law preempts any state law on this issue.
Any friendly decision the CFTC makes on this industry could end up financially benefiting the president’s family as well. President Trump’s son, Donald Trump Jr., has invested in Polymarket through his venture capital firm and is a strategic adviser for Kalshi.
FILE - Arizona Attorney General Kris Mayes speaks at the Arizona State Prison, March 19, 2025, in Florence, Ariz. (AP Photo/Darryl Webb, File)
NEW YORK (AP) — A jet landing at New York City’s LaGuardia Airport collided with a fire truck on the runway, killing the pilot and copilot and injuring several others. Here’s what you need to know:
The crash occurred around 11:45 p.m. on Sunday when an Air Canada regional jet arriving from Montreal struck an airport fire truck traveling across the runway to respond to a separate incident aboard another plane.
According to air traffic control audio, the pilot of that other plane — United Flight 2384 — reported a “weird odor” was causing flight attendants to feel ill while the plane was waiting to take off. The pilot declared an emergency and requested to return to a gate and for firefighters to respond.
Audio recordings from the airport control tower indicate the truck was initially cleared to cross the runway before a controller tried to pull it back to avoid a collision. The unnamed controller repeatedly told the vehicle to stop and diverted incoming aircraft from landing. He said later in the recording: “I messed up.”
Photos and videos from the crash's aftermath show the jet’s nose crushed and tilted upward, with debris hanging from the mangled cockpit. Stairways used to evacuate passengers were pushed up to the emergency exits and the damaged emergency vehicle lay on its side nearby.
Weather at the time of the crash included moderate winds of about 7 knots and visibility of around 4 miles (6.5 kilometers) with mist and fog conditions, according to Bryan Bedford, head of the Federal Aviation Administration.
The pilot and copilot were the only confirmed fatalities of the roughly 70 passengers and four crew members on board the Jazz Aviation flight, which was operating on behalf of Air Canada.
Their names have not been released by officials, but a family member identified one of them as Antoine Forest of Canada.
About 40 passengers and crew members were also taken to area hospitals, some with serious injuries, the authority said. Most were released as of Monday morning.
Two emergency responders traveling in the fire truck also suffered non-life-threatening injuries. One was expected to be released later Monday, while the other will spend another night in the hospital, according to Kathryn Garcia, head of the Port Authority of New York and New Jersey, which operates the airport.
Among the survivors was a flight attendant who was thrown from the plane while still strapped in her seat. Solange Tremblay suffered multiple fractures to her leg that require surgery but is miraculously OK, according to her daughter.
LaGuardia was shut down following Sunday’s crash and all air traffic was diverted. It reopened Monday afternoon but with just one runway in operation and significant delays.
The crash and temporary closure were the latest misery for U.S. airports struggling under a partial shutdown over government funding during the busy spring break season.
LaGuardia is a major transit hub — the 19th busiest out of more than 500 airports in the country in 2024, according to the FAA.
Sunday’s crash was the first fatal accident at the airport in more than 30 years, New York officials said.
LaGuardia, named after Depression-era Mayor Fiorello LaGuardia, opened to commercial traffic in 1939 and is located in the New York City borough of Queens, some 9 miles (14 kilometers) from Manhattan.
Federal investigators said late Monday it was too soon to answer many questions about the accident but promised more information would be released Tuesday.
Jennifer Homendy, chair of the National Transportation Safety Board, which is leading the investigation, said investigators will analyze the plane’s cockpit and flight data recorders, which were recovered from the wreck undamaged.
She said the runway where the crash happened is likely to be closed for days as investigators sift through a “tremendous amount of debris."
Canada has also sent a team to look into the circumstances of the collision.
Air traffic controllers are not directly affected by the current shutdown, which has lasted more than a month and has caused long lines and frustration among travelers at airports across the country.
Hundreds of Transportation Security Administration agents have called in sick or quit their jobs rather than be forced to work without pay. President Donald Trump, in response, deployed immigration enforcement officers to supplement TSA agents on Monday.
Congress remains deadlocked over approving funding for the Department of Homeland Security, which oversees the TSA.
The crash underscores the challenges air traffic controllers have faced in recent years.
Controllers are required to report to work without pay during government funding shutdowns as they are considered essential workers. But some over the years have taken to calling out of work sick in frustration, leading to staffing shortages that cause flight delays.
U.S. Transportation Secretary Sean Duffy on Monday declined to say how many controllers were on duty at the time of Sunday’s crash, deferring instead to the ongoing NTSB investigation.
But he denied rumors that the tower had only one controller on duty and said LaGuardia is “very well staffed,” with 33 certified controllers and more in training. He said the goal is to have 37 on staff.
Associated Press reporter Michael R. Sisak in New York contributed to this story.
Follow Philip Marcelo at https://x.com/philmarcelo
An Air Canada Jet sits on the runway at LaGuardia Airport, Monday, March 23, 2026, after colliding with a Port Authority aircraft rescue and firefighting vehicle after landing in New York. (AP Photo/Ryan Murphy)
Firefighters and investigators examine the site, Monday, March 23, 2026, where an Air Canada jet came to rest after colliding with a Port Authority firetruck at LaGuardia Airport, after landing Sunday night in New York. (AP Photo/Seth Wenig)
A Port Authority firetruck lays on its side just off the runway at LaGuardia Airport, Monday, March 23, 2026, after colliding with an Air Canada jet shortly after it landed late Sunday night in New York. (AP Photo/Seth Wenig)
