Shan Ahmed Khan

May 19, 2026, 9:35 AM EDT. Rep. Ritchie Torres has introduced legislation aiming to prohibit the use of campaign funds for betting on prediction markets-platforms where participants wager on the outcomes of future events. This move reflects growing concerns within Congress about the ethical implications and regulatory gaps surrounding these markets. Prediction markets have gained attention for their potential to forecast elections and other political outcomes but remain largely unregulated. The proposed ban would mark a significant step toward tightening control over campaign finance and gambling activities linked to political forecasting.