Athletes can’t bet on their own sport, right? That could lead to charges of taking bribes or fraud. Employees of publicly traded companies can’t give stock tips based on non-public information. That’s insider trading. There are legal consequences for some people who make money based on information only they have, or on situations over which they have some control.

Meanwhile, prediction markets such as Kalshi or Polymarket provide platforms so new there are not yet consequences for many cases in which a person might make money betting on something they know more about than the average bettor.

According to a report by WEWS, Ohio Rep. Sean Brennan, D-Parma, is introducing a bill that would make a dent in that problem by banning Ohio public officials and their employees from trading on prediction markets.

Among the examples of problematic behavior given in WEWS statehouse reporter Morgan Trau’s story is Virginia’s Mark Moran, who used a prediction market platform to bet that he would enter the state’s U.S. Senate race, knowing full well what his plans were.

“The prediction market environment that we’re hearing about these days, it just doesn’t meet the smell test, right?” Brennan said.

U.S. Sen. Bernie Moreno, R-Ohio, agreed, telling WEWS, “There shouldn’t be a side hustle of using the information you get here to monetize.”

As the folks in Columbus work out the right balance between correcting a serious problem and overreach, perhaps Moreno can get a similar conversation started in Washington, D.C. Constituents are tired of hearing stories about enormous bets being placed — and wins being paid out — when it seems elected officials, or their staffs, families and buddies, gave themselves just enough opportunity to put down a little (or a lot of) money before they made an announcement.

“To protect people, to protect the integrity of our government, there’s nothing wrong with some guardrails,” Brennan told WEWS.

At least when it comes to easily manipulated (and exploited) prediction markets, one would think that would be common sense — both in Columbus and in our nation’s capital.