Story perspectives

Senators Slam Crypto Bets on Wars, Citing Security Risks

1/15/2026

27 2

Summary

Story summary

A group of 12 U.S. Senators criticized Polymarket, a crypto-based betting platform, for allowing bets on wars and events including a Chinese invasion of Taiwan.
They warned these contracts could threaten national security if manipulated by insider information.
In 2024, the Commodity Futures Trading Commission proposed rule changes to limit such bets, citing risks of incentivizing terrorism or war.
Kalshi Inc. has opted out of military-action markets for ethical reasons.

1 of 1

Story summary

A group of 12 U.S. Senators criticized Polymarket, a crypto-based betting platform, for allowing bets on wars and events including a Chinese invasion of Taiwan.
They warned these contracts could threaten national security if manipulated by insider information.
In 2024, the Commodity Futures Trading Commission proposed rule changes to limit such bets, citing risks of incentivizing terrorism or war.
Kalshi Inc. has opted out of military-action markets for ethical reasons.