Genuinely embarrassing for Dems to propose this bill. All of these actions are *ALREADY* illegal. So this doesn’t solve our problems. 7 U.S.C. § 5c(c)(5)(C) makes it illegal to have prediction markets on war, assassination, terrorism or ANY illegal act. CEA § 6(c)(1) (7 U.S.C. § 9(1) and CFTC Rule 180.1 (17 CFR § 180.1) make ANY insider trading illegal. The problem is illegal offshore exchanges are ignoring these laws even when they have a US nexus. Why? Trump’s CFTC gutted the enforcement division of the CFTC so offshore entities target Americans unchecked. If @ChrisMurphyCT and @RepCasar are serious about solving this problem (which we should) then it’s EASY: 1. Tie CFTC funding to maintaining a minimum enforcement division. 2. Let enforcement division bypass commissioners and get approval from Ag committee if they are blocked on enforcement. 3. Clarify that US nexus applies to any market that *relates* to the US as well. 4. Don’t approve US regulated entities if they have a related/arms-length offshore entity that violates US nexus rules. The bill as currently written does NOTHING to stop the abuses that exist. It duplicates existing laws and then kills “markets where outcome is known” which would include actual financial options/events contracts on the NASDAQ which are used in hedging and financial insurance. If Murphy and Casar aren’t just after populist headlines and really want to solve this problem, this is entirely the wrong bill - and seems misguided and uninformed to the point it’s embarrassing. Between staffers and the Congressional research office, it should be table stakes for Congress to know the *current* laws and not be proposing duplicates.(Adam Cochran (adamscochran.eth))