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Notably, ethics concerns may have played a critical factor in the rejection of the bill. Lawmakers from both sides did not feel that an updated version of the text released on Sunday went far enough in addressing concerns related to senior officials maintaining or endorsing crypto business ties. However, a group of Republicans claimed they made a series of concessions when US President Donald Trump agreed to modifications on Sunday night that contained stronger ethics measures, the Associated Press reported. The 11th hour concessions were not enough to appease potential swing voters among Senate Democrats.

“This legislation failed squarely because Republicans refuse to say no to the president,” Arizona Senator Ruben Gallego said in a statement. “It takes 60 votes to pass a bill, and instead of spending their time twisting themselves into knots to appease President Trump, Republicans should have worked more closely with Senate Democrats to craft a bill that could pass with strong ethics provisions.”

Wyoming Senator Cynthia Lummis, the leading negotiator for Republicans, berated her Democratic colleagues in a statement, saying they “played games” and “were never truly serious about protecting consumers”.

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Polymarket may defend any substantial investment in marketing given the overwhelming impact on customer acquisition that ensued. On Tuesday, Polymarket ranked first on the App Store in downloads for free finance apps, topping archrival Kalshi, Capital One Mobile and prominent payment providers PayPal and Venmo.

The company did not immediately respond to a request for comment from iGB.

A bevy of participating athletes took to social media this week to share their thoughts on the campaign. An X post from Leguizamo, a longtime comedian, encapsulated the fast-paced nature of prediction markets.

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The committee has advocated for applying a public health framework to gambling advertising regulation. It criticised the existing patchwork of self-regulation, noting the Advertising Standards Authority (ASA) codes, co-regulation for broadcasts and industry-led voluntary measures, were inadequate.

Instead, the report recommended that advertising regulation be placed on a statutory footing under the Gambling Commission. 

This would grant the regulator enhanced powers to proactively enforce rules and restrict problematic advertising channels effectively.