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    Adam Schiff Introduces Bill to Ban War and Death Bets on Prediction Markets
    Cryptocurrency

    Adam Schiff Introduces Bill to Ban War and Death Bets on Prediction Markets

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    13 Comments

    1. coinfeeds-bot on

      tldr; U.S. Senator Adam Schiff has introduced legislation to ban prediction market bets involving war, terrorism, assassination, or death. The bill aims to prevent platforms regulated by the Commodity Futures Trading Commission (CFTC) from offering contracts tied to violent or unlawful events. Schiff argues that such markets could enable profiteering from nonpublic information, jeopardize national security, and encourage violence. The legislation seeks to explicitly prohibit these contracts to address ethical and security concerns.

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

    3. AncientProduce on

      Agree with this, the people that want to bet on wars and death should go play in a war or see what death is like before theyre allowed to complain about not being able to bet on someones shitty day.

    6. aprx4 on

      Performative politics, as usual. How’d they plan to enforce it if it passed? What can they do if Americans use VPN and connect their crypto wallets with Polymarket?

      In the past it was easy because transactions would have to go through selective few of banks or card companies. With crypto it’s impossible because decentralized money+platforms are really a check on big government.

    8. warriorlynx on

      A bet on if a country starts a war I can see as being ok I guess but the rest no

    11. wgcole01 on

      How about we just ban congressmen from prediction markets and let everyone else bet on what they want to bet on?

    12. No_Statement_6635 on

      Having these on there is a benefit to society in my opinion. Does it seem crass? Maybe. But it allows the public to read signals that politicians and news won’t give. For example we can see what people really think about how long the straight of Hormuz will be closed, or when someone will likely bomb another country.

      If our politicians and news agencies are telling us one thing but the betting markets are telling us the opposite this gives people a more trustworthy signal.

      Even in cases where there is “insider information” this strengthens the argument. If you live a potentially war impacted part of the world and your politicians and news outlets are saying “everything is fine” but you see a $30k bet on Polymarket that your area will be bombed in the next 3 days…well if you were in the fence about evacuation you might be leaning stronger in the correct direction now.

    13. spXps on

      How is USA even a country bro… You don’t have these laws already? Like what are you courts doing all those decades???