Dem lawmakers have criticized prediction markets after suspected insiders made over $1 million from contracts tied to the US-Israeli air strikes on Iran, including an alleged $550,000 windfall related to the killing of Iranian Supreme Leader Ayatollah Ali Khamenei. Six new accounts on Polymarket, a largely unregulated prediction market, raked in $1.2 million by betting that the US would strike Iran on Feb. 28, with some shares purchased hours before the first explosions were reported in Tehran. The surge in activity was part of a surge of activity on the site, with $529 million traded solely on contracts tied directly to the strikes. Sen. Chris Murphy (D-Conn.) called it “insane this is legal.” and introduced legislation to ban this.