Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Election Wagering topic
No spam. Unsubscribe anytime.
Committee hears bill to prohibit wagering on political outcomes amid rise in election betting
Summary
Senator Olivera introduced S.1237 to ban wagering on election outcomes, citing billions wagered on the 2024 presidential race and the growth of betting markets that now include legislative outcomes; he and supporters said the measure would protect democratic institutions and noted pending federal bills that could preempt state action.
Senator [Olivera] told the Joint Committee on the Judiciary he filed S.1237 to prohibit wagering on political outcomes after witnesses and data indicated rapid growth in markets that take bets on elections and legislative outcomes.
Senator Olivera told the committee that in 2024 some $3,400,000,000 (three point four billion) were wagered on the presidential election and that bets now target congressional, gubernatorial and other races. He said betting on political outcomes poses risks from foreign influence and could create conflicts of interest for people who work on legislation or serve in government.
Olivera referenced companion federal bills filed by Senator Jeff Merkley and Representative Jamie Raskin and said sponsors would work with committee staff to refine state-level language. He said several states already ban such wagering and that Massachusetts should “lead the way” to prohibit betting on democratic institutions and legislative outcomes.
Committee members did not take formal action; Olivera offered to work with staff to refine certain definitions and to coordinate with federal efforts that could supersede state law.
