Murphy and Casar propose banning prediction markets on sensitive events
US Senator Chris Murphy and Representative Greg Casar introduced the BETS OFF Act, proposing to prohibit markets tied to war, terrorism, assassination and government actions. The bill would also bar contracts on events controlled by one person or a small group, according to the report; Murphy and Casar said insider knowledge and influence could create risks.
The proposal could restrict contracts offered by prediction-market platforms and affect their compliance obligations.