U.S. Democratic lawmakers introduce the DEATH BETS Act, proposing to ban war and death prediction market contracts

2026-03-11 05:06:30

Abstract generation in progress

Odaily Planet Daily reports that U.S. Representatives Mike Levin and Senator Adam Schiff introduced the “DEATH BETS Act” on Tuesday, aiming to amend the Commodity Exchange Act to explicitly prohibit CFTC-registered entities from listing prediction contracts involving terrorism, assassination, war, or personal death.

The bill responds to recent high-stakes bets on platforms like Polymarket concerning nuclear explosions, military strikes, and leadership changes.

Although CFTC Chair Michael Selig recently stated that the prediction market regulatory framework would be expanded and claimed its accuracy surpasses political polls, the bill seeks to eliminate agency discretion and enforce the ban through legislation. Lawmakers argue that such contracts pose national security risks, may incentivize violence, and could be exploited for profit using non-public information. (Decrypt)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes