multi source·1h ago·3 sources analyzed
Legislators Address Insider Betting on Prediction Markets
New regulations are emerging in response to the growth of prediction markets. Lawmakers are taking steps to prevent insider betting practices. (sources: aljazeera, foxnews, whyy)
Image: whyy
ModernAction Briefing
The Senate has passed rules banning lawmakers from betting on prediction markets. A Philadelphia state legislator is also proposing legislation to outlaw insider betting in these markets.
- Prediction markets like Polymarket and Kalshi have gained popularity for betting on various outcomes.
- The Senate unanimously approved new rules prohibiting lawmakers from participating in these markets.
- A state legislator in Philadelphia is advocating for a ban on insider betting in prediction markets.
Why it matters
These developments reflect growing concerns about the ethics of betting on uncertain events, particularly by those in positions of power.
No specific legislation identified for action yet.