Bipartisan lawmakers propose limits on prediction markets involving war, elections, and sports

A bipartisan pair of lawmakers in the House wants federal regulators to clamp down on certain prediction markets, arguing that some platforms now allow trades tied to events that could raise serious national security and public safety concerns.

U.S. Reps. Blake Moore, a Republican from Utah, and Salud Carbajal, a Democrat from California, have introduced legislation called the Event Contract Enforcement Act. Their proposal would direct federal regulators to block specific types of event-based...