BETS OFF Act: Lawmakers Target Prediction Markets
Hartford News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
U.S. Senators Chris Murphy and Greg Casar introduce the BETS OFF Act to ban prediction markets from betting on government actions or events influenced by one person. The bill also prohibits wagers on terrorism, assassinations, and wars, aiming to prevent insider trading and officials profiting from their decisions. Exceptions include financial bets like Federal Reserve interest rate moves. Lawmakers seek Republican support, but the Commodity Futures Trading Commission claims full oversight. Platforms have not commented yet amid growing calls to regulate this industry.
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