SEN DAVE McCORMICK: Prediction markets are booming. Washington must catch up

Prediction markets have seen a significant increase in transaction volume, with over $60 billion in just three and a half months, prompting the need for updated regulatory frameworks to protect investors and strengthen market integrity. The Prediction Market Act has been introduced to bring greater clarity and predictability to prediction markets. This act aims to strengthen consumer protection, set clear ethical guardrails, and keep America in the lead of this fast-growing industry.