Crow Urges Johnson to Ban 19 House Signers From Prediction Markets

2 articles · Updated · coloradopolitics.com · May 13

Nineteen House lawmakers asked Speaker Mike Johnson and Minority Leader Hakeem Jeffries to bar members, their families and staff from trading on prediction markets, extending a bipartisan ethics push now reaching the House.
The May 11 letter says lawmakers should not profit from nonpublic information or from outcomes they help shape, and it also calls for a House ban on trading individual stocks.
The push follows a Senate rules change approved unanimously less than two weeks ago that blocks senators and staff from betting on current events, while separate bipartisan bills would widen the ban across government.
Scrutiny has intensified after AP reported traders made hundreds of thousands of dollars betting on a U.S.-Iran ceasefire timeline, and the Justice Department charged an Army soldier accused of making more than $400,000 from classified information.

With billions wagered on political outcomes, can new rules truly stop insiders from cashing in on secrets?

Will prediction markets be tamed by state lawsuits or will federal regulators let their explosive growth continue?

As betting on current events booms, are prediction markets creating a new public health crisis of gambling addiction?