US Democratic lawmakers introduce bill to crack down on prediction markets

[BumRushDaShow]

Source: msn/Reuters

12h


WASHINGTON, March 17 (Reuters) - U.S. Democratic lawmakers Senator Chris Murphy and Representative Greg Casar on Tuesday introduced a bill to ban prediction market bets on military operations and other sensitive government actions, increasing pressure on the fast-growing markets.

The bill is one of several competing efforts on Capitol Hill to rein in prediction markets, after well-timed bets ahead of the U.S.-Israeli air strikes in Iran and Venezuela operations stoked concerns over the legality and ethics of such trades.

Here are some details:

* The bill is called Banning Event Trading on SensitiveOperations and Federal Functions (BETS OFF) Act.
* It would ban wagering on government actions, terrorism,war, assassination, and events where an individual knows orcontrols the outcome.

Read more: https://www.msn.com/en-us/news/us/us-democratic-lawmakers-introduce-bill-to-crack-down-on-prediction-markets/ar-AA1YQw90

[gfarber]

1. Bets Off

There once were two lawmakers who scoffed,
At wagers on wars—“Cut it off!”
With a bill named BETS OFF,
They warned profits too soft,
When insiders could game from aloft.

They said betting on bombs and on fate,
Or assassins, or moves of the state,
Let the powerful few
Rig outcomes they knew—
Turning tragedy into a rate.

On a platform where crypto bets gleam,
Some wagers looked more like a scheme,
On strikes yet to start,
Or unrest set apart—
Suggesting inside-info streams.

With connections that raised some alarms,
And investments entwined in its arms,
They questioned the ties
Behind profit and prize,
When policy mingles with harms.

Said Murphy, “It’s ripe for abuse,
When the knower can’t possibly lose—
If you shape the event,
Then the wager’s not bent,
It’s corruption let loose with excuse.”

“And worse,” he continued with dread,
“When life, death, and morals are fed
Through a market of gain,
Where the ruthless obtain,
Then the nation’s own soul may be dead.”

While Casar decried it and shouted,
“This corruption must clearly be routed—
For the rich and the strong
Have been cashing in wrong,
On outcomes they quietly scouted.”

And others agreed in disgust,
That such markets betray public trust:
“No one gambles on war,
Or on death at its core—
Not with power and knowledge unjust.”

Disclaimer: Yes, an AI helped write this—because if you’re looking for pure, hand-crafted literary suffering, you’re welcome to go produce some yourself. If you like my attempts, consider clicking the link.

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