Democratic Congresswoman Slams Prediction Markets: 99.96% Of Traders Lose

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Congresswoman Yassamin Ansari (D-Ariz.), the first Iranian American Democrat in Congress, filed six articles of impeachment against Defense Secretary Pete Hegseth on Wednesday over the Iran war.

A day later, she turned her attention to another Iran-war flashpoint: prediction markets Polymarket and Kalshi.

Ansari posted on X that prediction markets are casinos where the rich and powerful are the house and everyone else is the chips. She said 99.96% of users lose everything while the top 0.04% walk away with billions.

The political risk lands on Intercontinental Exchange (NYSE:ICE), the parent of the New York Stock Exchange, which committed $2 billion to Polymarket in a two-stage deal completed in March. Kalshi raised $1 billion at a $22 billion valuation in its latest round.

Ansari was promoting the BETS OFF Act, which she cosponsored last month alongside Sen. …

Full story available on Benzinga.com

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