US Lawmakers Propose Ban on Government Officials' Prediction Market Bets

A new bill, known as the PREDICT Act, has been introduced by a bipartisan group of lawmakers in the United States.

The legislation aims to prohibit top government officials from participating in prediction market bets, targeting those at the federal level, including President Donald Trump.

The move comes amid growing scrutiny of prediction markets and concerns about potential insider trading. Prediction markets allow users to place bets on various events, including political outcomes, using cryptocurrency or other forms of payment.