US Lawmakers Introduce Bill to Crack Down on War Bets in Prediction Markets

Two Democratic lawmakers have introduced legislation responding to what they called "government corruption" over bets placed on prediction market platforms. In a Tuesday announcement, Representative Greg Casar and Senator Chris Murphy introduced the Banning Event Trading on Sensitive Operations and Federal Functions (BETS OFF) Act after several Polymarket accounts made "highly unusual bets" that a war between the US and Israel against Iran would begin.

Murphy said on March 4 that it was likely people with "inside information" of US President Donald Trump’s plan to bomb Iran had made the bets.

United States

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