Vermont lawmakers debate regulation and potential ban of prediction markets

14 articles · Updated · WCAX · Apr 24

A new bill sponsored by Rep. Tom Stevens would effectively ban platforms like Kalshi and Polymarket in Vermont, citing concerns about insider trading and lost sports betting revenue.
The Vermont Department of Liquor and Lottery criticizes the bill as a distraction, while Attorney General Charity Clark supports states’ rights to regulate such markets. The bill is unlikely to pass this year.
Prediction markets remain federally regulated, with several other states suing platforms for alleged illegal gambling. Stevens says his proposal aims to spark public discussion on prediction markets’ role in Vermont.

As billions pour into prediction markets, can regulators outpace sophisticated insider trading schemes?

With states losing millions in tax revenue, is a federal takeover of these markets inevitable?

Could banning prediction markets destroy one of the most accurate tools for forecasting future events?

How can officials stop foreign adversaries from using these markets to manipulate public opinion?

When everything becomes a tradable event, where does society draw the line on what can be bet on?