A new Senate bill, introduced by Sen. Jeff Merkley (D-Ore.), would ban prediction markets on sports, politics, news and entertainment. Critics argue that these markets are gambling and are rife with insider trading. The STOP Corrupt Bets Act would ban event contracts on elections, sports, government actions, and military moves. The bill, co-sponsored by Senator Elizabeth Warren, would further ban senior government officials from insider trading on prediction markets. It would also require the Government Accountability Office to study prediction markets, insider trading issues and the effects on children.