[US lawmakers urge CFTC to crack down on election gambling, Polymarket betting hits record high] Golden Finance reported that a group of US lawmakers called on the Commodity Futures Trading Commission (CFTC) to ban gambling on US elections, pointing out that such behavior is harmful to public trust. The letter emphasized that after the assassination attempt of former President Donald Trump and President Joe Biden's withdrawal from the 2024 presidential campaign, election-related bets on Polymarket hit a record high, with trading volume almost doubling to $1 billion in July. Several lawmakers, including Senators Elizabeth Warren, Richard Blumenthal, and Chris Van Hollen, supported the letter. They warned that such behavior could shift voter motivations from real political beliefs to financial incentives, and worried that political insiders might use non-public information for personal gain. The lawmakers called on the CFTC to take action to prevent the "commoditization" of US elections and immediately formulate and implement relevant rules to restore public trust. Recently, Jeff Merkley also wrote a letter urging the CFTC to reject a proposal by private prediction market operators to legalize gambling on US election results, which the CFTC ultimately rejected.