Senate bans members and staff from betting in prediction markets
Summary
The U.S. Senate passed a new rule that bans senators and their staff from using prediction markets, where people bet on future events. This rule aims to stop lawmakers with sensitive information from making bets and takes effect immediately.Key Facts
- The Senate approved the rule change unanimously by voice vote.
- The rule bans both senators and their staff from participating in prediction markets.
- Prediction markets allow people to bet on outcomes of future events.
- The rule was prompted by a recent case where a U.S. special forces soldier was charged with betting on a secret event using classified information.
- Senators raised concerns about public betting on sensitive issues like the conflict with Iran.
- Sen. Bernie Moreno said senators should not engage in speculative betting while receiving taxpayer money.
- Senate Minority Leader Chuck Schumer called the ban obvious and urged the House and President Trump’s administration to follow suit.
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