WASHINGTON, March 9 -- Sen. Jack Reed issued the following press release:
When will the Commodity Futures Trading Commission (CFTC) finally crack down on shady activity in online prediction markets? There is probably already an "event contract" on that question. And a Trump Administration "insider" could potentially make lots of money if they know the answer and place an anonymous online wager.
Noting that prediction markets should not be a vehicle for profiting off advance knowledge of military action, and that allowing them to be poses serious national security risks, U.S. Senators Jack Reed (D-RI) and John Hickenlooper (D-CO) are calling on the CFTC to prohibit event contracts tied to U.S. military operations and to investigate whether...