AXIOS (Andrew Solender) - Congress is scrambling to regulate prediction markets
Members of Congress are rushing to institute new regulatory guardrails around online prediction markets following a series of alleged insider trading scandals. Why it matters: As with cryptocurrency and artificial intelligence, this is proving to be yet another emerging tech policy area in which Congress finds itself struggling to stay ahead of the curve. - More than a dozen bills have been introduced this year aimed at regulating betting markets, according to the Congressional Research Service . Not one has made meaningful progress towards becoming law. - The latest is a bill from Rep. Ritchie Torres (D-N.Y.), first obtained by Axios , which would ban the use of campaign funds to bet on prediction markets. Catch up quick: A $30,000 bet…