Merkley, Klobuchar Launch New Effort to Ban Federal Elected Officials Profiting from Prediction Markets
Summary
Senators Merkley and Klobuchar introduced the End Prediction Market Corruption Act to bar federal elected officials from trading event contracts in prediction markets, aiming to curb insider-information-based profits. The bill is cosponsored by several Democrats and supported by watchdog groups, highlighting concerns about ethics and public trust. The release also ties the proposal to Merkley's broader anti-corruption agenda, including prior efforts on election gambling, stock trading bans, and crypto-related reform.