US lawmakers come together in an attempt to ban election gambling
These leaders believe allowing wagers could create public mistrust in the election process.
A group of legislators recently presented a letter to the Commodity Futures Trading Commission (CFTC), proposing a gambling ban on American elections, according to a recent KTVZ local report.
The letter was signed by several government leaders, including Senators Jeff Merkley, Richard Blumenthal, Chris Van Hollen, Elizabeth Warren and Sheldon Whitehouse, along with Representatives Eleanor Holmes Norton, Jamie Raskin and John Sarbanes.
Lawmakers expressed concern for voters and noted that rebuilding trust should be prioritized over a focus on wages.
The letter stated, “As we approach the 2024 election, voters already face a political system that allows the richest individuals and corporations to funnel dark money into campaigns without disclosure. The threat of violence and extremism is high, and the US remains a target for foreign actors who have sought to meddle in our elections.
“The last thing that voters heading to the polls need are bets waged on the outcome of that election. Voters need action, as proposed by the CFTC in this rule, to restore trust. Elections are not a for-profit enterprise. Without this rule, voters will wonder if their vote mattered, and the whether the outcome of the election was influenced by big money bets.”
Lawmakers also argued that allowing election betting could potentially create mistrust in the election process.
They wrote, “Election gambling fundamentally cheapens the sanctity of our democratic process. Political bets change the motivations behind each vote, replacing political convictions with financial calculations. Allowing billionaires to wager extraordinary bets while simultaneously contributing to a specific candidate or party, and political insiders to bet on elections using non-public information, will further degrade public trust in the electoral process.
“We urge you to promptly finalize and implement this rule to prevent the commodification of US elections.”
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