Senate Democrats Introduce Bill to Ban Prediction Market Bets on War and Death

TheNewsCryptoPubblicato 2026-03-11Pubblicato ultima volta 2026-03-11

Introduzione

U.S. Senator Adam Schiff introduced the DEATH BETS Act, a bill to prohibit prediction markets from offering contracts related to war, terrorism, and individual deaths. This move contrasts with the CFTC's recent efforts to relax regulations on such markets. Supporters argue that these bets could enable insider trading using classified information and pose national security risks. The bill represents a policy clash between lawmakers seeking stricter controls and regulators favoring market flexibility. If passed, it could initiate broader discussions on event-based betting regulations.

U.S. Senator Adam Schiff has introduced a new bill called the DEATH BETS Act, which aims to ban prediction market contracts related to events such as war, terrorism, and individual deaths. The bill comes at a time when the CFTC is moving towards looser rules for the prediction markets, which creates a policy clash between lawmakers and regulators.

What are prediction markets?

Basically, prediction markets allow people to bet on the outcomes of future events. Participants buy contracts that pay out if a specific event happens. However, some platforms have started listing contracts related to serious or sensitive events.

The new Death Bet Act would make it illegal for the regulated exchanges to offer contracts linked to war, terrorism, and the death of an individual. The bill would also ban the contracts that are indirectly connected to a person’s death. Currently, CFTC has the authority to block these contracts if it believes they go against the public interest.

Supporters of this bill argue that betting on the violent event could create serious risks. Senator Schiff says these markets could allow people with insider knowledge or classified information to profit from the tragic event. He also warns that these bets on war or death could threaten national security.

The bill comes at a time when the CFTC is reconsidering how the prediction market should be regulated. In February, the agency withdrew a previous proposal from 2024 that would have broadly banned political prediction markets. By introducing the Death Bets Act, Schiff is effectively pushing back against the regulators’ more permissive approach.

This debate shows that the lawmakers want stronger restrictions and regulators who favor greater flexibility for the protection of markets. If this bill passes, then it would mark the beginning of the larger policy discussion about the role of event-based betting.

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Domande pertinenti

QWhat is the name of the bill introduced by Senator Adam Schiff and what does it aim to ban?

AThe bill is called the DEATH BETS Act, and it aims to ban prediction market contracts related to events such as war, terrorism, and individual deaths.

QWhat is the primary concern of supporters of the DEATH BETS Act regarding these prediction markets?

ASupporters argue that these markets could allow people with insider or classified information to profit from tragic events and that betting on violent events could threaten national security.

QHow does the introduction of this bill relate to the current actions of the CFTC?

AThe bill creates a policy clash because it is introduced at a time when the CFTC is moving towards looser rules for prediction markets, with the agency having recently withdrawn a proposal to ban political prediction markets.

QWhat authority does the CFTC currently have over prediction market contracts?

AThe CFTC currently has the authority to block prediction market contracts if it believes they go against the public interest.

QWhat broader discussion could the passage of this bill potentially start?

AIf passed, the bill would mark the beginning of a larger policy discussion about the role of event-based betting.

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