Betting on the Oscars or the Super Bowl halftime show would be banned under new prediction market bill

Sen. Chris Murphy and Rep. Greg Casar

Tom Williams/CQ-Roll Call, Inc via Getty Images; Aaron Schwartz/Getty Images

• Sen. Chris Murphy and Rep. Greg Casar introduced the "BETS OFF Act" to regulate prediction markets.
• It includes a ban on trades on events where insiders have control or knowledge about the outcome.
• That applies not just to government actions, but also to things like the Oscars.

If two lawmakers on Capitol Hill get their way, making prediction...