With distrust in our electoral system at an all-time high, we must crack down on gambling in all U.S. elections. Our democracy demands reliable and transparent processes to cast ballots and tally results, not a horserace clouded by gambling odds and bets placed.
Critics argue that big-money bettors could have more sway in the markets on election betting sites, producing odds on candidates' chances of winning. The new bill's backers worry this could affect the results.
Some backers of election betting note that these types of bets allow Americans to gauge just how popular the candidates really are as selectors use their own money to pick a winner.
Election betting platforms argue that these wagers should be seen as event-based derivative contracts, more akin to regulated financial instruments rather than gambling on a football or basketball game.
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