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Moore introduces bill to curb prediction-market 'event contracts' citing security and insider‑trading risks
Summary
Rep. Blake Moore announced the Event Contract Enforcement Act to tighten regulation of prediction markets (often called prop betting or event contracts), saying the bill would give the CFTC stronger enforcement tools to address national-security and insider-trading risks.
Rep. Blake Moore said he and his staff introduced the Event Contract Enforcement Act, legislation intended to restrict certain prediction-market ‘‘event contracts’’ that he said can create incentives for insider leaks, criminal profiteering and national‑security risks.
Moore described how online prediction markets differ from traditional wagering: rather than odds set by a bookmaker, traders buy and sell shares tied to an outcome and prices fluctuate with market forces. He said some event…
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