US lawmakers introduce BETS OFF Act to restrict prediction market contracts
US Senator Chris Murphy and Representative Greg Casar introduced the BETS OFF Act, which would bar CFTC-regulated prediction markets from offering contracts on government actions, terrorism, war, assassination and outcomes controlled or known by an individual. Murphy said the bill responds to risks of insider trading and financial incentives influencing government decisions.
If enacted, the proposal would restrict the event contracts available on federally regulated prediction markets.