Adam Schiff Urges Prediction Markets Crackdown Over Insider Trading, Warns Of 'More Crimes' If No Action

Adam Schiff Urges Prediction Markets Crackdown Over Insider Trading, Warns Of 'More Crimes' If No Action

Sen. Adam Schiff (D-Calif.) on Thursday called for stricter rules on prediction markets, warning that access to insider information could fuel unethical profits and criminal activity tied to sensitive global events. In a post on X, Schiff said Congress must ensure that "no public official or other person with insider information" can use that knowledge to place bets in prediction markets. He pushed legislation that would prohibit contracts tied …