WASHINGTON, April 3 -- Sen. Chris Murphy issued the following press release:
U.S. Senator Chris Murphy (D-Conn.) this week published a Substack warning of prediction markets' potentially disastrous effects on our social and spiritual wellbeing. Murphy discussed how prediction markets have transformed fundamentally moral questions, with life-or-death stakes, into speculative financial wagers, inducing everyday Americans to participate in important public decisions through gamified online betting instead of civic engagement and action.
Last month, in response to highly suspicious betting activity on prediction markets in the hours leading up to the initial strikes on Iran, Murphy introduced the BETS OFF Act, legislation to ban prediction ma...