US lawmakers Murphy, Casar push legislation to regulate prediction markets
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US lawmakers Senator Chris Murphy and Representative Greg Casar plan to introduce the Banning Event Trading on Sensitive Operations and Federal Functions (BETS OFF) Act. The legislation aims to regulate prediction markets like Kalshi and Polymarket, prohibiting wagers on government actions, terrorism, war, assassinations, and events where outcomes are known or controlled. This initiative follows instances where bettors profited from geopolitical events, such as US military strikes and the abduction of Venezuelan President Nicolas Maduro. Lawmakers express concern about the potential for insider trading and the ethical implications of monetizing sensitive issues. The bill seeks to prevent profiting from events like war or government decisions, addressing concerns about the moral implications of these markets.
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This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).
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