Senators voted unanimously Thursday to ban themselves from participating in prediction markets as Congress tackles the ethics of the novel platforms.
Prediction markets, which allow participants to place bets on future events as varied as sports scores and election results, have gained considerable scrutiny in recent months after suspiciously timed bets led to accusations of insider trading. A U.S. Special Forces soldier, for instance, was arrested last week and accused of betting on the operation to capture Venezuelan President Nicolás Maduro based on classified information. He has pleaded not guilty to charges including commodities fraud, wire fraud and theft.
