Episode Details

Prediction markets, once limited to sports betting, now extend to political races and more. However, recent bets on U.S.-Israel strike against Iran have sparked concerns. Texas Democrat Greg Casar and Connecticut Senator Chris Murphy propose the BETS OFF Act, aiming to ban bets on government decisions, terrorism, wars, assassinations, and events with insider influence. Platforms like Kalshi and Polymarket, handling billions weekly, argue they already ban certain bets and enforce no-insider-trading policies. The White House and CFTC are reviewing new rules to prevent winning from hidden advantages.

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