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Lawmaker pushes bill to bar prediction-market trades tied to terrorism, elections
Summary
A lawmaker introduced H.R. 7840 on the House floor, proposing to strengthen the Commodity Exchange Act and direct the Commodity Futures Trading Commission to ban event contracts tied to terrorism, assassination, war, gaming, criminal behavior, elections and government actions.
A lawmaker on the House floor introduced H.R. 7840, the bipartisan Event Contract Enforcement Act, proposing new limits on online prediction markets that allow trading on terrorism, assassinations, war and elections.
The lawmaker said the bill would direct the Commodity Futures Trading Commission to prohibit event contracts tied to terrorism, assassination, war, gaming or criminal behavior and would ban trading on election outcomes and government activities to protect elections from manipulation. “Our classified military strike should not provide an opportunity for…
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