U.S. looks to ban election betting as traders flock to prediction sites
Washington Post, August 17, 2024
By Tony Romm
Even before President Joe Biden had announced his exit from the 2024 election, thousands of voters flocked to the website PredictIt last month, hoping to place bets on the other candidates who might win in his stead. …
“Right now, American democracy is already in a fragile state,” said Cantrell Dumas, the director of derivatives policy for Better Markets, which opposed Kalshi’s proposal. “If you’re a politician, would you want someone to bet on your election?”
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