Public News Service: Pro-Democracy Group: Regulators Should Say “No Dice” to Election Betting

However, Stephen Spaulding, vice president for policy at the group Common Cause, said this would put even more pressure on the health of democracy in current political environment.

“This opens up a significant risk to the perception that the winners and losers of an election are not determined by voters, but by those who stand to gain financially,” he said.

Common Cause has sent a filing to the commission, asking that it reject the proposal. Leadership with the House Task Force on Strengthening Democracy issued a similar request. Rep. Marc Pocan, D-Wis., is on the task force but declined comment.

Supporters of the idea have said the forecasting could help small businesses protect their interests while benefiting researchers. However, Spaulding said the world of politics is still reeling from the 2010 Citizens United ruling by the U.S. Supreme Court. When you add gambling to the equation, he said, big spenders could hold sway over the process in an even bigger way.

“You can imagine a situation where an entity that is now able to spend money on elections post-Citizens United then places an enormous wager on the outcome of the election,” he said, “and also funnels resources through Super PACs or other dark money vehicles to influence the outcome of an election.”

 

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