During a press conference Friday, U.S. Rep. Kristen McDonald Rivet, D-Mich., discussed a bill she recently introduced to crack down on insider trading within the federal government.
“When you are in Congress, when you are working in high levels of government, when you are a federal judge, you get access to information that other people don’t get,” McDonald Rivet said. “You get access, you get private briefings, you get research, you get heads up on things that are going to happen. It’s so easy to use that information to personally profit.”
“Prediction markets make it possible to bet on anything,” said McDonald Rivet. “You can bet on and make money on when a strike is going to happen in Iran, you can bet on and make money on who’s going to win an election.”