Reps. Blake Moore and Salud Carbajal introduced the Event Contract Enforcement Act, legislation that would require the Commodity Futures Trading Commission (CFTC) to prohibit the delivery of certain event contracts to the public. The measure proposes amending the Commodity Exchange Act to ban event contracts tied to terrorism, assassinations, war, gaming, elections and government activities.
Carbajal and Moore said they introduced the act to protect Americans from safety and national security risks associated with “problematic” event contracts and to prevent sensitive information from being used for insider trading.
“Under-regulated prediction markets are creating an environment ripe for insider trading. The monetization of military activities or election processes threatens our national security and further erod..
