[Prediction Market Trading Volume Surges Due to U.S.-Iran Conflict, U.S. Senator Proposes Legislation to Ban War Betting] According to Foresight News, as reported by Cointelegraph, prediction market activity has surged significantly as traders flock to contracts related to the escalating U.S.-Iran conflict. Data from Token Terminal shows that as of the week ending March 9, the nominal trading volumes of Polymarket and Kalshi reached $2.49 billion and $2.85 billion, respectively, both hitting record highs. Dune data indicates that the total nominal trading volume across all prediction markets has reached $145 billion, with 2.8 million unique users. Meanwhile, U.S. regulators and lawmakers are tightening controls. On Tuesday, Democratic Senator Adam Schiff introduced the "DEATH BETS Act," a bill aimed at amending the Commodity Exchange Act (CEA) to explicitly prohibit federally regulated prediction markets from listing contracts related to war, terrorism, assassinations, and individual deaths. Previously, six Polymarket traders were accused of insider trading after profiting $1 million from accurately betting on a U.S. attack on Iran.