Betting on the Oscars or the Super Bowl halftime show would be banned under new prediction market bill

Stop calling it a prediction market! It’s gambling.

Ummm. What about betting on elections? Or voting? Or any f****** thing government related? Allowing any kind of gambling on anything related to the government is blatantly transparent corruption. Where’s that law?

**From Business Insider’s Bryan Metzger:**  If two lawmakers on Capitol Hill get their way, making prediction market bets on the Oscars or the Super Bowl halftime show would be illegal. "If you bet on who's performing at the Super Bowl Halftime Show, and lose your money to someone who controlled the answer, you're getting ripped off," said Democratic Rep. Greg Casar of Texas. "Wouldn't the government protect consumers from markets that were transparently rigged?" said Democratic Sen. Chris Murphy of Connecticut. "The people who benefit in these markets are always the powerful." Murphy and Casar introduced a bill on Tuesday that would ban a slew of prediction markets currently offered by platforms like Kalshi and Polymarket. Dubbed the Banning Event Trading on Sensitive Operations and Federal Functions (BETS OFF) Act, the bill would ban prediction market trading on the following: * terrorism, assassination, and war; * non-financial government actions in general; * events where individuals know or can control the outcome. [Read more about the bill.](https://www.businessinsider.com/murphy-casar-bets-off-prediction-markets-government-actions-2026-3?utm_source=reddit&utm_medium=social&utm_campaign=insider-entertainment-sub-post)

Add geopolitical skirmishes (Iran War)and elections and it’s a start

I’m fine with having to go to a location to do it but being able to do it from phone is so destructive

Great because Kalshi and Polymarket are gambling

It still blows my mind that these places not only allow betting on professional wrestling, they straight up sponsor the events. Like, what’s to stop the talent from feeding results to a family member so they can magically place all the winning bets like Biff Tannen with the Sports Almanac? At least all the “weird” bets are still usually on something where there is still a degree of randomness and uncertainty to the outcome. Not a scripted show that’s more about choreography like Dancing With The Stars than an actual skill based competition.

But elected government officials can trade stocks and make millions from their positions of power influencing law and knowing what’s happening within government. Cool

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The fact this is ok but I can’t just bet the moneyline legally is so annoying

Whatever, some new "prediction market" will open in China, or the Phillipines, or Russia, or where ever. Cant be stopped

Sounds like draft kings lobby is doing their job trying to dominate this market. You can bet prop bets on draft kings and fan duel that are literally the same thing the color of Gatorade, how long will the Star-Spangled Banner be, who will catch the first pass etc. All human controlled!

Then what is crypto? Or the stock market? Or the currency exchange? or….

Not that im defending polymarket or anything here, but why are people all up in arms.over and not Draft kings or the million other sport betting apps?

You're not letting Darwinism do its job. Like the guy who invented the seat belt.

Let people throw their money away if they want. I’m sick of these politicians telling people what is good for them. The proceeds are taxed so what’s the problem!