US Democratic lawmakers have introduced the DEATH BETS bill, which aims to ban contracts in markets that predict war and death.

U.S. Representatives Mike Levin and Adam Schiff introduced the "DEATH BETS Act" on Tuesday, aiming to amend the Commodity Exchange Act to explicitly prohibit CFTC-registered entities from listing prediction contracts involving terrorism, assassination, war, or personal death. This bill is a response to recent high-stakes betting on nuclear explosions, military strikes, and leadership changes on platforms like Polymarket. Although CFTC Chairman Michael Selig recently stated he would expand the regulatory framework for prediction markets and claimed their accuracy surpasses political polls, this bill seeks to eliminate agency discretion and enforce the ban through legislation. Lawmakers argue that such contracts not only pose national security risks but could also incentivize violence and lead to the exploitation of non-public information for profit. (Decrypt)