- Donald Trump and Chris Christie defend the CFTC's exclusive authority over prediction markets while acknowledging states must handle gambling products.
- President Trump and the administration address allegations of financial interests, propose prohibitions on wagering on sensitive government actions, and advocate for exclusive federal jurisdiction over prediction markets.
- The Commodity Futures Trading Commission is considering its first regulations for prediction markets, introducing integrity measures due to insider trading risks, with arrests involving specific data sources.
- Major prediction market platforms Polymarket and Kalshi are under scrutiny as a Commission advises on election betting restrictions.
Lawmakers urged government to regulate betting platforms after fires in Los Angeles County attracted high-stakes bets.
2 reports, 1 independent
Updated Aug 19
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What happened
Lawmakers urged government to regulate betting platforms after fires in Los Angeles County attracted high-stakes bets.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Adam Schiff and Alex Padilla co-signed a letter urging regulatory action on markets.Sub-event
Lawmakers call for regulation of betting platforms following high-stakes bets tied to LA County fires.1 source
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The entities involved
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Adam Schiff
United States Senator from California
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Alex Padilla
United States Senator from California since 2021