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US Consultant Ritchie Torres is getting ready a new invoice to stop authorities officers from utilizing non-public data to revenue from prediction markets.
The choice follows issues over a latest commerce that generated giant earnings linked to reviews of Venezuelan President Nicolás Maduro’s seize.
In response to journalist Jake Sherman, who shared particulars on XTorres will suggest the Public Integrity in Monetary Prediction Markets Act of 2026.
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The laws would stop members of Congress, political appointees, and govt department staff from buying and selling on contracts tied to political or coverage outcomes if they’ve entry to confidential data via their work.
Sherman defined that the restriction “applies to purchasing, promoting, or exchanging prediction market contracts tied to authorities coverage, authorities motion, or political outcomes on platforms engaged in interstate commerce”.
The proposal goals to apply insider buying and selling requirements, lengthy utilized in monetary markets, to prediction market platforms.
The renewed give attention to prediction markets adopted a report {that a} new Polymarket account positioned roughly $32,000 on a contract predicting Maduro’s elimination from energy by January 31, 2026.
Later, reviews surfaced that US forces had captured Maduro, which pushed the contract to settle and earned the dealer over $400,000 in revenue.
$2.19B
has gone to courtroom in opposition to three US states because it seeks federal backing for its deliberate prediction markets. What did the alternate say? Learn the complete story.
