Washington, DC—The Foundation for Drug Policy Solutions (FDPS) applauds the bipartisan bill from Reps. Blake Moore (UT) and Salud Carbajal (CA), the Event Contract Enforcement Act, as a bulwark against the burgeoning addiction-for-profit industry of prediction markets.
“Prediction markets are no different from any other form of legal online gambling,” said FDPS CEO Kevin A. Sabet. “This bill from Reps. Moore and Carbajal highlights just how destructive and addictive these markets can be and takes aim at one of their central strategies: letting people bet on elections and other policy outcomes. It would hammer the bottom line of yet another addiction-for-profit industry—and that’s a public health victory. It would also end a perverse incentive for government insiders to trade on non-public knowledge: great news for transparency and good governance.”
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