Schumer Wants to Ban Lawmakers, Officials on Prediction Markets

Senate Democratic leader Chuck Schumer called on the House of Representatives and the White House to follow the Senate’s lead by imposing a ban on trading in fast-growing prediction markets.

“Members and staff representing the public should never be able to gamble on wars, on economic crises or on elections,” Schumer said in a statement on Sunday. “The very possibility that a member’s vote could be influenced by a bet is reason enough to slam this door shut.”

The Senate voted unanimously on Thursday to ban its members and staff from trading on prediction markets, highlighting concerns about insider trading ...