Democrats push bill to curb war-related bets on prediction markets after Iran strikes
TL;DR
U.S. lawmakers Rep. Mike Levin and Sen. Chris Murphy are drafting legislation to restrict prediction markets after bets tied to Iran-related actions drew scrutiny for potential insider knowledge; the move targets platforms like Polymarket and Kalshi, with debates rooted in the Commodity Exchange Act’s limits on wartime contracts, as Polymarket removed a nuclear-explosion market and lawmakers consider broader reforms amid reports of insider profits.
- US Democrats working on bill to rein in prediction markets after Iran bets Reuters
- Sen. Merkley proposes prediction market ban for government officials after Maduro, Iran bets CNBC
- Bettors wagered $54 million on Khamenei’s death. Now they’re not getting paid. The Washington Post
- Prediction market trader 'Magamyman' made $553,000 on death of Iran's supreme leader NPR
- New 'prediction markets' in spotlight after people profit from war in Iran ABC7 Los Angeles
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