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Senators move to block federal officials from betting on political prediction markets

ReadWrite·@SuswatiBasu·2 months ago
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Interest in prediction markets has surged in recent years, but two U.S. senators now want to make sure top government officials cannot profit from them. Senators Jeff Merkley of Oregon and Amy Klobuchar of Minnesota have introduced a bill designed to stop federal leaders from betting on prediction markets where people wager on the outcomes of future events. The proposal focuses on so-called event contracts, financial instruments whose value depends on whether a specific real-world development occurs. .@SenJeffMerkley and @SenAmyKlobuchar introduce The End Prediction Market Corruption Act, banning the President, VP, and members of Congress from trading event contracts to prevent conflicts of interest and restore public trust in government.…

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