Rep. Torres Proposes a Bill to Ban Bets by U.S. Elected Officials

TLDR Rep. Ritchie Torres will introduce a bill to prohibit federal officials from betting on political prediction markets. The legislation targets use of nonpublic information for profit, aiming to safeguard against insider trading by government employees. A $30,000 bet on Polymarket about Maduro’s removal earned $436,000, prompting ethical concerns and legislative action. Polymarket lacks insider [...]

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