UK-listed gambling stocks experienced a notable upswing on Monday following the introduction of bipartisan legislation by U.S. senators aimed at banning prediction market platforms from offering sports betting contracts, according to the Wall Street Journal.

By 08:25 ET (12:25 GMT), Flutter Entertainment, which owns the prominent U.S. sports betting platform FanDuel, saw its shares rise by 7.6%. Meanwhile, its London-listed competitor, Entain, the parent company of Ladbrokes and BetMGM, increased by 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.

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.