Lawmakers have been eager to regulate these markets amid suspicious activity. Earlier this year, Sen. Todd Young (R, Ind.) and Sen. Elissa Slotkin (D, Mich.) introduced a bill that would ban federally elected officials and government employees from using insider information to bet on these prediction markets. Sen. Richard Blumenthal (D, Conn.), alongside Sen. Andy Kim (D, N.J.), in March introduced another bill seeking to regulate these markets, including banning prediction market listings related to war, death, and military action, and requiring age verification, among others. Both bills have yet to be voted on.
Trump has previously said he was “never much in favor of” prediction markets, when asked about federal workers possibly using classified information to trade on them, but he added that “the whole world unfortunately has become somewhat of a casino.”
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