Schiff proposes US ban on prediction contracts tied to war and death

Senator Adam Schiff introduced the DEATH BETS Act with Representative Mike Levin, proposing a US ban on contracts involving war, terrorism, assassination or an individual’s death on entities registered with the Commodity Futures Trading Commission. The proposal would replace the CFTC’s discretion to prohibit such contracts with a statutory ban. Schiff said the markets could enable profits from classified information and encourage violence.