U.S. Congress Pressures Prediction Markets Like Polymarket with Regulatory Demands

Congress Pressures Regulation on Military Betting

On April 6, Democratic Representatives Seth Moulton, Jim McGovern, and five others publicly addressed a letter to Michael Serling, Chairman of the Commodity Futures Trading Commission (CFTC), demanding tighter regulations on prediction market transactions involving military operations, assassinations, and terrorism.

The letter highlights that CFTC's internal 'Rule 40.11' explicitly prohibits the listing of contracts related to terrorism, assassinations, and wars, despite...