Two members of Congress have introduced a bill that would ban all prediction market contracts on government actions or outcomes known to one person.
Rep. Greg Casar and Sen. Chris Murphy introduced the Banning Event Trading on Sensitive Operations and Federal Functions (BETS OFF) Act Tuesday.
The bill would ban all markets on government actions or events where the outcome is controlled by one person. The bill text has not yet been published, meaning an exact definition of an outcome controlled by one person is not currently clear. However, Murphy referenced “mention markets,” on the words that a politician or other notable figure will say during a public appearance, as an example.
