Washington, April 7 -- Congressman Seth Moulton issued the following press release:
Today, Reps. Seth Moulton (MA-06) and Jim McGovern (MA-02) sent a letter to Commodity Futures Trading Commission (CFTC) Chairman Michael S. Selig demanding answers on why the agency has failed to take action against offshore prediction market platforms-such as Polymarket-that are allowing bets on U.S. military operations.
The letter was also signed by Reps. Greg Casar (TX-35), Jamie Raskin (MD-08), Dina Titus (NV-01), Gabe Amo (RI-01), and Yassamin Ansari (AZ-03).
The lawmakers argue that existing federal law allows the CFTC to pursue these contracts. CFTC Rule 40.11 explicitly prohibits the listing of contracts that "involve, relate, or reference terror...