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Source/Full Story - GamingAmerica'
Representatives Jamie Raskin and Andrea Salinas have drawn up proposed legislation to amend the Commodity Exchange Act.
Key points:
- Government representatives from across the US have submitted legislation that would ban US election betting
- This latest update follows a number of prior recommendations to ban the highly popular practice
Maryland’s Eight District representative Jamie Raskin, and Oregan’s Sixth District representative Andrea Salinas,
have today introduced the Ban Gambling on Elections Act, which seeks to outlaw gambling on any future US Presidential elections.
This new piece of legislation seeks to amend the US Commodity Exchange Act, which is currently in place to regulate
the trading of commodities and futures in the US. This latest motion comes following a continuous effort from
Representative Raskin to encourage the outlawing of election betting in the US.
Further, as reported on Raskin’s website, statistics from the 2024 presidential election highlight a staggering
$930m+ was wagered on the outcome of the vote.
Statistics released by bet365 regarding the 2016 presidential election also show that Trump’s win that year left the operator
$4m out of pocket, with an additional recent BetOnline report displaying a rising trend of election betting, further emphasizing
the popularity of the practice in the US.
Commenting on his motivations, Raskin said, “With distrust in our electoral system at an all-time high, we must crack down on
gambling in all US elections. Our democracy demands reliable and transparent processes to cast ballots and tally results
, not a horserace clouded by gambling odds and bets placed.
"I am proud to go all-in with Congresswoman Salinas and Senator Merkley in calling on Congress to
ante up and pass this commonsense legislation.”
Good to know: A matter of days before the election, the Washington State Gambling Commission
issued a warning to residents stating that political betting is still considered illegal in the eyes of the Commission.
Indeed, this sentiment was echoed by Salinas, who added, “Elections betting sets a dangerous precedent, incentivizing bad
actors to try and influence or interfere with our elections systems. We cannot play roulette with our democracy by allowing
this kind of wagering without a thorough accounting of the potential consequences.
“I will also continue working to provide more federal resources for gambling addiction treatment and research. While Sports Betting
and online gambling have become permanent forms of American entertainment, we must acknowledge and help mitigate the harm caused by related addictions.”
The issue of election betting is one that began to build momentum ahead of November’s presidential vote, with Oregan
Senator Jeff Merkley stating that the practice could compromise election integrity in September. This statement was then
followed by the news that the US Court of Appeals had ruled in favor of allowing election betting to continue in October.
Representatives Jamie Raskin and Andrea Salinas have drawn up proposed legislation to amend the Commodity Exchange Act.
Key points:
- Government representatives from across the US have submitted legislation that would ban US election betting
- This latest update follows a number of prior recommendations to ban the highly popular practice
Maryland’s Eight District representative Jamie Raskin, and Oregan’s Sixth District representative Andrea Salinas,
have today introduced the Ban Gambling on Elections Act, which seeks to outlaw gambling on any future US Presidential elections.
This new piece of legislation seeks to amend the US Commodity Exchange Act, which is currently in place to regulate
the trading of commodities and futures in the US. This latest motion comes following a continuous effort from
Representative Raskin to encourage the outlawing of election betting in the US.
Further, as reported on Raskin’s website, statistics from the 2024 presidential election highlight a staggering
$930m+ was wagered on the outcome of the vote.
Statistics released by bet365 regarding the 2016 presidential election also show that Trump’s win that year left the operator
$4m out of pocket, with an additional recent BetOnline report displaying a rising trend of election betting, further emphasizing
the popularity of the practice in the US.
Commenting on his motivations, Raskin said, “With distrust in our electoral system at an all-time high, we must crack down on
gambling in all US elections. Our democracy demands reliable and transparent processes to cast ballots and tally results
, not a horserace clouded by gambling odds and bets placed.
"I am proud to go all-in with Congresswoman Salinas and Senator Merkley in calling on Congress to
ante up and pass this commonsense legislation.”
Good to know: A matter of days before the election, the Washington State Gambling Commission
issued a warning to residents stating that political betting is still considered illegal in the eyes of the Commission.
Indeed, this sentiment was echoed by Salinas, who added, “Elections betting sets a dangerous precedent, incentivizing bad
actors to try and influence or interfere with our elections systems. We cannot play roulette with our democracy by allowing
this kind of wagering without a thorough accounting of the potential consequences.
“I will also continue working to provide more federal resources for gambling addiction treatment and research. While Sports Betting
and online gambling have become permanent forms of American entertainment, we must acknowledge and help mitigate the harm caused by related addictions.”
The issue of election betting is one that began to build momentum ahead of November’s presidential vote, with Oregan
Senator Jeff Merkley stating that the practice could compromise election integrity in September. This statement was then
followed by the news that the US Court of Appeals had ruled in favor of allowing election betting to continue in October.
