Senator Warren Urges CFTC to Ban Political Betting Contracts Amid $500M Polymarket Bets

Senator Elizabeth Warren, along with other Democratic lawmakers, is urging the Commodity Futures Trading Commission (CFTC) to finalize a ban on political betting contracts.
They argue that such contracts could compromise the integrity of elections and democracy by allowing wealthy individuals and insiders to manipulate outcomes.
This call for action comes as Polymarket, a popular betting platform, reports over $500 million in bets on the 2024 US presidential election, reaching all-time highs (ATHs).
Lawmakers are concerned that the growing popularity of election betting could undermine public trust in the democratic process. The CFTC has been considering this ban.
This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.
Related Posts
Advertisement
Get an edge in Crypto with our free daily newsletter
Know what matters in Crypto and Web3 with The Defiant Daily newsletter, Mon to Fri
90k+ Defiers informed every day. Unsubscribe anytime.