Lawmakers in at least 16 states have introduced legislation this year to regulate prediction markets in some way, according to a Pew Research study published Tuesday. The surge in state-level action signals growing bipartisan concern over the integrity of electoral processes when financial wagers are tied to outcomes.
The push comes as prediction markets — platforms where users bet on events like election results — have grown in popularity and drawn scrutiny from federal regulators. While such markets can offer real-time polling data, critics warn they may incentivize manipulation or undermine public trust in democratic systems.