Amy Klobuchar: “I appreciate the support that you and Facebook and now Twitter actually have given to the Honest Ads Act.”

“With the U.S. cattle herd at its smallest size in over 70 years, many farmers and ranchers need new opportunities to stay afloat,” said Klobuchar.

The volume of event contracts trading on prediction markets has grown exponentially over the past 18 months.

I think part of what we need is more sunshine on what’s happening here, and more transparency, and people understanding how truly bad this is.

Sufficient resources should be devoted to anticipating and addressing such issues prior to contract listing, rather than after problems arise.