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'Gruesome' war bets fuel calls for crackdown on prediction markets
Source: BBC
'Gruesome' war bets fuel calls for crackdown on prediction markets
15 March 2926
Natalie Sherman
Business reporter
-snip-
The apps caught fire during America's 2024 presidential campaign, after a legal victory cleared the way for them to accept election bets and they showed the odds tilting toward Donald Trump.
But it is more grisly wagers tied to military action involving Iran, Venezuela and Israel that have drawn attention lately.
In theory, such bets run afoul of US financial rules, which bar trading on contracts involving war, terrorism, assassination, gaming or other illegal activities.
But that hasn't stopped firms from taking in millions of trades.
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Read more: https://www.bbc.com/news/articles/cjwz8051y0lo