House memo urges limits on officials' prediction market bets
REGULATIONCommodity Futures Trading Commissioncoinbrief/daily · 1 source
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What happened
House Oversight staff have asked Congress to stop government officials from betting on prediction markets, especially on government actions and political outcomes. Their November 13 memo points to past cases where people were ordered to pay penalties over trades on platforms such as Kalshi and Polymarket.
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What to do
- Watch Robinhood's Q4 event contracts figures, which the article says will show whether growth holds under added scrutiny.
- Watch for Elizabeth Warren's expected move to chair Senate Banking from January, as she is a longtime crypto critic.
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Who reported · 1 outlet
BeInCrypto
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