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Cointelegraph by Martin Young

US Democrats draft bill to restrict prediction markets after Iran strike wager surge

US Senator Chris Murphy and Representative Mike Levin are preparing legislation to tighten oversight of prediction markets after large bets were placed on the timing of Israeli and US strikes on Iran. Murphy alleges that individuals close to Donald Trump likely used inside information to make highly specific wagers, while trading on Polymarket related to potential US strikes in Iran has reached hundreds of millions of dollars in volume.
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