Democratic Lawmakers Move to Ban War and Assassination Prediction Contracts

Democratic Lawmakers Representative Mike Levin and Senator Adam Schiff have introduced the DEATH BETS Act. This is a bicameral legislation to ban prediction market contracts tied to war, assassination, terrorism, or an individual’s death. Levin noted that over $500 million was wagered on the timing of US military strikes on Iran, highlighting the scale of trading activity on war-related prediction contracts. Why it matters: Prediction markets have gained notable traction, with platforms experiencing record activity as traders bet on various outcomes source: https://beincrypto.com/death-bets-act-ban-prediction-contracts/