Capitol Hill Cracks Down on Prediction Market Apps
Salt Lake City News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Lawmakers on Capitol Hill are stepping up oversight of prediction market apps, with bipartisan bills proposing new federal restrictions. Senators Adam Schiff and John Curtis aim to block bets on sports, while Representative Alexandria Ocasio-Cortez warns of gamblings societal impacts. Concerns about insider trading lead to a separate bill preventing government officials and athletes from betting on political outcomes. Despite voluntary measures by platforms like Kalshi and Polymarket, federal rules remain the focus.
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