As the U.S. heads toward November’s midterm elections, a growing number of investors and political observers are turning to prediction markets like Kalshi and Polymarket to gauge who might win.

Sens. Jeff Merkley, D-Ore., Elizabeth Warren, D-Mass., and Rep. Jamie Raskin, D-Md., on Thursday introduced legislation to ban prediction market bets on sports, war, elections and government actions.

Farran Powell is the managing editor of investing at Forbes Advisor. She was previously the assistant managing editor of investing at U.S. News & World Report. Her work has appeared in numerous ...

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