US senators urge CFTC to finalize ban on election betting
It comes as decentralized prediction platform Polymarket has gathered more than $500 million in bets on who will likely win the 2024 United States presidential election.
Five United States Senators and three House representatives have renewed calls for the commodities regulator to ban betting on the 2024 presidential election.
They claimed that such markets “could influence and interfere with elections and further erode public trust in democracy” in an Aug. 5 letter to the Commodity Futures Trading Commission Chair, Rostin Benham.
“We urge you to promptly finalize and implement this rule to prevent the commodification of U.S. elections.”
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Author: Brayden Lindrea
