Prediction Markets and the Line Between Betting and Risk | Birmingham News

Birmingham AL News Today | 2 Min News | The Daily News Now! · Jul 22, 2026 · 1m

Congressman Shomari Figures is sounding the alarm on prediction markets, warning they’re eerily similar to sports betting—letting people buy and sell contracts on future events, even in states with strict gambling laws. While federal authorities haven’t banned them, concerns are mounting over potential financial harm, especially for vulnerable users, and ethical quandaries around betting on tragedies like natural disasters or war. Figures calls for smart regulation to harness their planning power while shielding people from risky, potentially illegal access—especially since some users might…