Prediction Markets - Is There Regulation?

The first step towards an ideal world is for the prediction market industry to be like vastly deregulated. It's basically impermissible by regulatory fiat to create markets on most of the interesting questions that people care about. I think there are some regulations which wouldn't be too harmful in this ideal world. The idea of markets is that good money chases out bad. In political markets I'm not actually sure that's the case. You saw things like after Donald Trump had lost the election after the election was over there were still betting markets off for real money betting markets that would give him like 10% 11% chance to be the next presidentlike into January.