WASHINGTON (CN) — Congressional Democrats on Tuesday unveiled new legislation they said would clamp down on prediction markets that allow users to bet on real-life government actions, including war, to the tune of hundreds of thousands of dollars.
Lawmakers said the proposed bill was a long overdue remedy to concerns that Trump administration insiders and others with knowledge of government deliberations have leveraged their connections to profit massively off the war in Iran and military action in Venezuela, among other things.
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