Lawmakers target prediction markets as betting surges to $64B
Scripps News · Older
Scripps News
Older
Prediction markets, which allow users to buy and sell contracts on future events, saw nearly $64 billion in activity last year. These markets differ from traditional betting by functioning as federally regulated exchanges and are praised by some as effective forecasting tools.
Breakdown
- Prediction markets allow betting on future events via yes/no contracts. 12s
- Nearly $64 billion was spent on prediction markets last year. 46s
- Markets are accessible to 18-20-year-olds, unlike sports betting. 1m 11s
- Lawmakers introduced bills to ban sports betting and insider trading. 1m 20s
- Litigation and legislation create uncertainty for prediction markets. 1m 48s