Mick Mulvaney, the former Chief of Staff under President Trump, has called for state regulation of prediction markets, which he describes as a form of gambling, following significant betting activity related to potential U.S. military action in Iran. Leading a coalition named Gambling Is Not Investing, Mulvaney argues that state authorities are better equipped to protect consumers than the federal Commodities Futures Trading Commission (CFTC), which claims regulatory authority over these markets. He expressed concerns that such prediction markets pose national security risks, as adversaries could interpret bets to gain insight into U.S. plans.
Mick Mulvaney calls for state regulation of prediction markets after Iran bets
