A Wall Street firm wants to turn our elections into a day at the racetrack, where investors can rake in massive profits by betting on which party they think will win. And guess what? Federal regulators are quietly considering this outrageous proposal.
As absurd as it is to say this: We need to tell regulators not to legalize gambling on US elections.
It’s not in the public interest to give rich investors new ways of manipulating and extracting profit from our elections. Billionaires who bet on a particular party to win will use any tool at their disposal to ensure that outcome. They will flood social media platforms with disinformation and could even coerce their workers to vote in whatever way makes them profit.
Giving every rich person on Wall Street a reason to manipulate and abuse our democracy is unconscionable.
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