On August 6th, according to CryptoSlate, as election-related gambling on Polymarket reached a record high, US lawmakers called on the CFTC to ban election gambling. Senator Elizabeth Warren and others said that election gambling can damage public trust and the democratic process, and asked the CFTC to immediately establish rules to prevent the "commodification" of elections.
Previously, due to the attempted assassination of former President Donald Trump and the withdrawal of current President Joe Biden from the race, Polymarket's election-related trading volume nearly doubled to $1 billion in July. Lawmakers have warned that election gambling could shift voter motivation to financial incentives and allow political insiders to profit from non-public information, further eroding public trust.
US lawmakers call on CFTC to ban election gambling like Polymarket
2024-08-06 03:11:35
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