PANews reported on August 6 that according to CryptoSlate, as election-related gambling on Polymarket reached an all-time high, US lawmakers called on the CFTC to ban election gambling. Senator Elizabeth Warren and others said that election gambling would undermine public trust and the democratic process, and asked the CFTC to immediately formulate rules to prevent the "commodification" of elections.
Earlier, Polymarket's election-related trading volume nearly doubled to $1 billion in July due to the assassination attempt on former President Trump and current President Biden's withdrawal from the election. Lawmakers warned that election gambling could shift voter motivations toward financial incentives and enable political insiders to profit from non-public information, further eroding public trust.