Senators ban themselves from prediction markets after candidates bet on own races

Senator decries "blatant, brazen corruption," wants to target Trump admin next.

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[citizencoyote]

Kalshi said in March that it was “launching new technological guardrails that preemptively block politicians, athletes, and other relevant people from trading in certain politics and sports markets.” Polymarket said yesterday that it is deploying a blockchain system to monitor trading and enforce its rules.

Lol, sure, and what about the offspring of politicians who are advising the company? Do you honestly think Kalshi is telling Don Jr., no bets for you?

These prediction markets are nothing more than gambling rackets rife with insider trading and knowledge and should be banned outright. It's one thing to bet on something like sports where the outcome is uncertain, quite another to bet on "Are we going to bomb Iran tonight?"