Sen. Blumenthal Announces Bill To Regulate Prediction Markets
Co-sponsored by Sen. Andy Kim, D-N.J., the bill would restrict betting on military actions, among other things
Co-sponsored by Sen. Andy Kim, D-N.J., the bill would restrict betting on military actions, among other things
WASHINGTON, March 12, 2026 – Are you hoping to bet on the next drone strike in the Iran war? Sen. Richard Blumenthal, D-Conn., thinks you shouldn’t.
On Wednesday, the Senator introduced the “Prediction Markets Security and Integrity Act” a bill that would regulate prediction markets to ban “wagers on war, crack down on insider trading, and protect consumers from fraud” according to the announcement.
“Prediction markets have become a haven for insider trading, market manipulation, and underage gambling. These billion-dollar businesses are turning war into a casino game, and creating a market for national security leaks,” said Blumenthal in a statement.
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