Capitol Hill Targets Prediction Market Apps
Portland Maine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Lawmakers on Capitol Hill are intensifying scrutiny of prediction market apps, with bipartisan bills proposing federal restrictions. One measure, backed by Senators Schiff and Curtis, seeks to prevent these platforms from offering sports betting, aiming to maintain state control. The push for regulation gained momentum following a major platforms partnership with Major League Baseball, which sparked concerns about addiction and social harms. Another bill targets insider risks by barring politicians and officials from betting on political outcomes. As calls for stronger rules grow, federal legislation appears imminent.
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