After Reports of 3 Political Candidates Trading on their Elections, Merkley Renews Call to Ban Election Gambling

Washington, D.C. - Oregon's U.S. Senator Jeff Merkley-who has long sounded the alarm on election betting-released the following statement after prediction market firm Kalshi reported three instances of political candidates betting on their own elections:

"Election betting is a bad bet for democracy-plain and simple. Since 2023, I have been concerned about Wall Street firms setting up massive election casinos that could demolish the integrity of our democratic process by prioritizing money over the will of the American people. Now, we have seen the consequences of reducing our democracy to a horse race for the wealthy and powerful to bet on.

"Allowing election gambling with the ability to put the thumb on the scale is like allowing bets on ballgames when you also control the umpire. It is corruption, plain and simple. And it is corruption aimed at the heart of our democracy.

"My STOP Corrupt Bets Act is a necessary step to prevent election casinos from further eroding our democratic institutions, and I'm ready to work with my colleagues on both sides of the aisle to protect the integrity of our votes."

The STOP Corrupt Bets Act would ban betting through prediction markets on issues that are against the public interest and have no economic value, such as elections, government actions, sports, and military actions. To learn more about the STOP Corrupt Bets Act, including the full text of the legislation, click here.

###