Senators Ban Themselves From Prediction Markets as Insider Trading Concerns Grow

By William Earl

William Earl

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Senators voted on April 30 to restrict themselves from prediction markets as there is an increasing concern of insider trading by government officials, CNBC reports.

The resolution was spearheaded by Ohio Senator Bernie Moreno, and immediately prohibits Senators and staff from the markets.

The platforms, like Kalshi and Polymarket, are quickly growing in popularity as a way to essentially bet on the results on scores of outcomes, from sporting events to when international war will be waged.

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