“DEATH BETS Act”: Ban on Deadly Prediction Markets

USA Democratic lawmakers have introduced a new bill aimed at restricting prediction markets. The legislation prohibits contracts tied to war, terrorism, assassinations, and death.  

California Senator Adam Schiff presented the initiative, known as the DEATH BETS Act, which removes the Commodity Futures Trading Commission’s (CFTC) discretion in such cases. The ban would be codified directly into law and extend to contracts that could be interpreted as closely connected to human death.