Stories
People are Betting on Elections in Prediction Markets. Congress is Watching.
The Los Angeles Times reports, "The amplification of election misinformation by users who had money staked on the mayoral race adds a new twist to evolving scrutiny of prediction markets, and scholars say the ability to bet on elections broadly raises questions about whether the exchanges could alter how Americans engage in democracy."
“Elections are not a game,” said Davina Hurt, director of government ethics at the Markkula Center for Applied Ethics at Santa Clara University. “[If market] probabilities begin influencing donor decisions, media attention, the energy around [campaign] volunteers — at that point, markets aren’t just observing the election. They’re a part of it.”
Davina Hurt, director, government ethics, quoted by the Los Angeles Times.