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Prediction Market Ban? Senator Brings Legislation Forward, Another Congressman Invests In Polymarket Backer
Senator Chris Murphy (D-Conn.) plans to introduce legislation to outlaw certain types of prediction markets, specifically after some individuals profited from predicting the timing of a U.S. attack on Iran. This move comes as Intercontinental Exchange (NYSE:ICE), which invested in prediction market company Polymarket, sees one congressman, Josh Gottheimer (D-N.J.), investing in its stock, potentially creating conflict within the Democratic Party regarding prediction market regulation. Several other members of Congress have also invested in ICE shares over the past year.