All posts tagged: Jeff Merkley

John Arnold commits .6 million to study online sports betting risk

John Arnold commits $2.6 million to study online sports betting risk

Published by Sam Flores

John Arnold, founder and co-chair of Arnold Ventures, speaks during a session at CERAWeek by S&P Global at George R. Brown Convention Center in Houston, March 20, 2024. Yi-Chin Lee | Houston Chronicle | Hearst Newspapers | Getty Images Billionaire philanthropist John Arnold says online sports betting has changed immeasurably since it became legal in the U.S. in 2018, thanks to the rise of online prediction market platforms Kalshi and Polymarket and mobile apps like DraftKings and FanDuel. To better understand the potential risks, he’s awarding $2.6 million to researchers studying the evolving world of gambling on sports. The grants, which have not been previously reported, will go to researchers at universities and think tanks to look at the effect of gambling on financial well-being, household formation, mental health and consumer behavior. Arnold, who co-founded Arnold Ventures with his wife, Laura, told CNBC he wants lawmakers and regulators to wake up to the new reality of the booming sports betting market. “Being able to bet over the phone has dramatically increased access and lowered friction,” …

Trump’s face doesn’t belong on U.S. passport, senators tell Rubio

Trump’s face doesn’t belong on U.S. passport, senators tell Rubio

Published by Sam Flores

A U.S. passport featuring an image and signature of U.S. President Donald Trump is seen in this rendering released by the State Department, in Washington, April 28, 2026. U.S. State Department | Via Reuters President Donald Trump’s face should not be printed on a special edition U.S. passport, a group led by Democratic senators said in a letter to Secretary of State Marco Rubio on Wednesday. The group, led by Sen. Jeff Merkley, D-Ore., in the letter shared first with CNBC, called on Rubio to halt plans to issue a limited number of passports featuring Trump to commemorate the nation’s 250th anniversary. “The U.S. passport has never — and should not now — feature an image of a sitting U.S. president. We ask you to halt these plans given the anti-democratic impact this decision will have,” the group wrote. The letter was signed by Sens. Chris Van Hollen, D-Md., Jacky Rosen, D-Nev., Tim Kaine, D-Va., and Angus King, I-Maine, who caucuses with Democrats. Read more CNBC politics coverage The State Department announced via X in …

Trump ballroom security funding blocked by Senate parliamentarian

Trump ballroom security funding blocked by Senate parliamentarian

Published by Sam Flores

Construction cranes are seen, from the Washington Monument, on the site of the former East Wing of the White House on April 17, 2026. Anna Moneymaker | Getty Images President Donald Trump’s push to secure taxpayer-funded security upgrades tied to his proposed White House ballroom hit a roadblock after the Senate parliamentarian ruled that a $1 billion Secret Service provision could not be included in a GOP immigration enforcement bill as drafted. The Senate GOP vowed to find another way to get the funding included in the bill. Parliamentarian Elizabeth MacDonough determined Saturday that the provision, which included $220 million for security upgrades tied to the East Wing ballroom project, fell outside the jurisdiction of the Senate Judiciary Committee. Budget reconciliation bills must comply with strict rules, including the Byrd Rule, which bars provisions deemed extraneous to federal spending or outside the jurisdiction of the committees that drafted them. It’s up to the parliamentarian to determine what fits and what doesn’t. That means Republicans will have to rewrite the language if they want to keep …

Dems urge CFTC to rein in prediction markets sports betting, insider trading

Dems urge CFTC to rein in prediction markets sports betting, insider trading

Published by Sam Flores

Michael Selig, President Donald Trump’s nominee to serve as Commodity Futures Trading Commission chairman, testifies in a Senate Agriculture Committee hearing on his nomination on Capitol Hill, Nov. 19, 2025. Jonathan Ernst | Reuters A group of Democratic lawmakers is urging the Commodity Futures Trading Commission to issue a rule that would aim to rein-in prediction markets, curb insider trading and prohibit certain types of event contracts. In a letter first shared with CNBC and sent to the CFTC on Thursday, a group of congressional Democrats led by Jeff Merkley of Oregon., called on the federal agency to address “the rapid erosion of integrity” within prediction markets such as Kalshi and Polymarket. “We strongly encourage you to use your authority to preserve the intent of prediction markets, and congressional intent behind the Commodity Exchange Act, by issuing a rule that prevents insider trading and corruption in the market and prohibits event contracts on the outcome of elections, war and military actions in the U.S. or abroad, sports, and government actions without a valid economic hedging …

Former Attorney General Bondi to testify about Epstein on May 29

Former Attorney General Bondi to testify about Epstein on May 29

Published by Sam Flores

U.S. Attorney General Pam Bondi and Deputy Attorney General Todd Blanche arrive for a closed-door briefing for members of the House Oversight and Government Reform Committee, on the Justice Department’s handling of the Epstein investigation and compliance with the Epstein Files Transparency Act on Capitol Hill in Washington, D.C., U.S., March 18, 2026. Nathan Howard | Reuters Former Attorney General Pam Bondi will appear before the House Oversight and Government Reform Committee on May 29, the committee announced Wednesday. The panel’s majority announced the appearance the same day its Democratic members said they had begun the process to hold Bondi in civil contempt of Congress after she skipped scheduled testimony earlier this month. The committee had called Bondi in to testify on the Department of Justice’s handling of files related to the late sex offender Jeffrey Epstein. “This is all theater and completely unnecessary. They were happy giving the Clintons a free pass for months. We have secured Bondi’s appearance for May 29,” the House Oversight committee majority posted to X, in response to Democrat’s …

Congressional watchdog will probe DOJ’s handling of docs

Congressional watchdog will probe DOJ’s handling of docs

Published by Sam Flores

U.S. Sen. Jeff Merkley (D-Ore,) speaks during a press conference addressing a new policy that demands recipients of foreign military aid to follow international humanitarian law at the U.S. Capitol in Washington, U.S., February 9, 2024. Nathan Howard | Reuters Congress’ independent watchdog plans to open an investigation into the Department of Justice’s handling of files related to the late sex offender Jeffrey Epstein, according to Sen. Jeff Merkley, D-Ore. Merkley announced the opening of the probe on Tuesday, a little over a month after he and Sens. Lisa Murkowski, R-Alaska, Ben Ray Luján, D-N.M., and Dick Durbin, D-Ill., requested the Government Accountability Office do so. “”By illegally disregarding the law, the Trump Administration is cruelly denying ‘equal justice under the law’ to all of Jeffrey Epstein’s victims,” Merkley said in a statement. “This independent investigation is an important step in holding this Administration accountable for siding with the rich and powerful to help cover up the abuse of our most vulnerable.” Merkley is the senator who introduced the Senate version of legislation that last …

Kalshi, Polymarket lobby as insider trading, betting eyed by Congress

Kalshi, Polymarket lobby as insider trading, betting eyed by Congress

Published by Sam Flores

With proposals to rein in prediction markets proliferating through the halls of Congress in recent weeks and months, Kalshi — one of the biggest players in the booming industry — went on defense. The New York-based platform launched an ad campaign throughout Washington, rolling out mint-green spreads on billboards, bus shelters and inserts in The Washington Post. The ads seek to deflect the spate of criticism being hurled Kalshi’s way and to position it as different from Polymarket, the other global industry giant. “We ban insider trading,” “We don’t do death markets,” “We aren’t the house,” “We operate under U.S. law,” the ads read. The companies are looking to get ahead of lawmaker concerns about insider trading and bets placed on things like war-related deaths. Building corporate influence in the capital city is a well-used playbook. Prediction markets are a new player, and Kalshi and Polymarket are working to create goodwill with Congress and regulators, who are raising concerns about insider trading and unseemly bets on the platforms. “There’s been a lot of conflation between …

No prediction market bets on sports, election, war under new bill

No prediction market bets on sports, election, war under new bill

Published by Sam Flores

Sen. Jeff Merkley (D-OR) speaks at a news conference on his marathon overnight speech on the Senate floor at the U.S. Capitol Building on Oct. 22, 2025 in Washington, DC. Andrew Harnik | Getty Images A group of congressional Democrats on Thursday introduced legislation that would ban prediction market bets on elections, government actions, war and sports, as scrutiny on the popular platforms intensifies. Sens. Jeff Merkley, D-Ore., and Elizabeth Warren, D-Mass., and Rep. Jamie Raskin, D-Md., are leading the measure, which comes after a series of well-timed bets placed on world events — including the ousting of Venezuelan President Nicolas Maduro and the war in Iran — raised questions about prediction markets like Kalshi and Polymarket. “When anyone can use prediction markets to make a well-timed bet on Congress passing a bill, government decisions, or a military strike, it’s ripe for corruption and erodes public trust,” Merkley said in a statement. “The STOP Corrupt Bets Act restores the original intent of prediction markets and prevents these markets from further eroding our democratic institutions and turning them …

Congress seeks to depose prison guard on duty at death

Congress seeks to depose prison guard on duty at death

Published by Sam Flores

In this Nov. 25, 2019 file photo, Tova Noel, center in yellow blouse, a federal jail guard responsible for monitoring Jeffrey Epstein the night he killed himself, leaves federal court, in New York. Craig Ruttle | AP The House committee investigating disgraced sex offender Jeffrey Epstein announced on Friday it is seeking testimony from a prison guard on duty the night the New York financier died. In a letter posted to the House Oversight Committee’s X account, Chair James Comer, R-Ky., called Tova Noel, who allegedly Googled Epstein minutes before his body was found, for a deposition on March 26. “Due to public reporting, documents released by the Department of Justice, and documents obtained by the Committee, the Committee believes you have information that will assist in its investigation,” the letter to Noel states. Read more CNBC politics coverage Epstein was arrested in July 2019 on federal child sex trafficking charges and died by suicide weeks later in a federal jail in New York City. Noel was on duty that night and allegedly failed to …

Senators call for investigation into release, redaction of Epstein files

Senators call for investigation into release, redaction of Epstein files

Published by Sam Flores

Newly-released documents from disgraced late financier and sex offender Jeffrey Epstein, including a sheaf of entirely redacted pages, are seen in handouts released by the Justice Department and printed and arranged for a photograph by Reuters in Washington, Dec. 19, 2025. Jonathan Ernst | Reuters A bipartisan group of senators on Wednesday called on the Government Accountability Office to investigate the Department of Justice’s release and redactions of documents related to disgraced sex offender Jeffrey Epstein. The letter, signed by Sens. Dick Durbin, D-Ill., Ben Ray Luján, D-N.M., Jeff Merkley, D-Ore., Lisa Murkowski, R-Alaska, alleges the DOJ did not comply with a law that aimed to compel the release of the Epstein files while protecting victims. “Contrary to Congress’s explicit directive to protect victims, these records included email addresses and nude photos in which the names and faces of publicly-identified and non-public victims could be identified,” the lawmakers wrote. “But when it came to information identifying powerful business and political figures who are alleged coconspirators or material witnesses, DOJ appears to have heavily redacted those …