Recently, Representative Raskin has put forward a new bill aimed at banning online gambling related to elections. This development could have significant consequences for platforms like Polymarket. It’s worth noting that the CEO of Polymarket was targeted by authorities shortly following the elections.
I guess the proposal is to keep election integrity intact, but wouldn’t banning just move betting offline or to illegal chans? Might just make it harder to monitor. But yeah, I think it’s also about avoidin controversies like with the Polymarket CEO. Tricky situation tbh.
the introduction of such legislation could indeed affect the dynamics of online platforms facilitating election-related betting. However, completely banning it might not eradicate the issue, as users may shift to clandestine networks, making it tougher to regulate and enforce any legal frameworks. It’s essential to consider the balance between maintaining election integrity and allowing market experiments like predictive markets, which some argue can provide insights into public sentiment and potential electoral outcomes. Educational campaigns on responsible participation might be more effective than outright bans.
maybe this is also about addressing moral concerns surronding gambling on such a serious process. It could set a precedent but yeah, ppl always find a way around these bans. I’m curious about how other countries handle this, any success stories? 