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Democratic Senator Adam Schiff introduced a bill to ban prediction markets related to war, death and terrorism amid escalating insider trading concerns related to military operations.<\/p>\n
US Democratic Party Senator Adam Schiff introduced legislation Tuesday that would explicitly bar federally regulated prediction-market platforms from listing contracts tied to war, terrorism, assassination and individual deaths. <\/p>\n
The bill<\/a>, called the DEATH BETS Act, would amend the Commodity Exchange Act to make those contracts prohibited for entities overseen by the US Commodity Futures Trading Commission (CFTC).<\/p>\n In a statement<\/a> announcing the bill, Schiff said markets that let traders profit from violent events create incentives for the misuse of classified information, threaten national security and encourage violence. He said prediction markets had become a \u201cWild West\u201d and called for Congress and the CFTC to make clear that such \u201cdeath bets\u201d are not allowed.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n