Investment bank TD Cowen stated that several recent U.S. bills targeting prediction markets (including prohibitions on sports and political event contracts) are unlikely to pass this year. The firm believes these bills are largely "symbolic legislation." However, TD Cowen noted that the 2028 U.S. presidential election could become a real policy risk for the prediction markets industry, as concerns from both parties about it potentially circumventing state gambling regulations are rising. (The Block)