U.S. Bipartisan Lawmakers Propose Requiring Facial Age Verification for Prediction Markets

Odaily Planet Daily News: A group of bipartisan U.S. lawmakers has introduced a bill requiring prediction market platforms to conduct age verification through facial scanning before users can log in or open positions, preventing minors from using their parents' or relatives' accounts to access the related platforms.

Led by U.S. Representative Josh Gottheimer, the bill is co-sponsored by eight other bipartisan lawmakers. The technology estimates a user's age by analyzing facial structure and features. Proponents state that no identity or biometric information will be stored.

An assessment by the U.S. National Institute of Standards and Technology indicated that the average error of six age estimation algorithms is about 3.1 years, with errors typically higher for female faces than for male faces. Currently, the full text of the bill, along with details on the implementing agency, penalties, effective date, and user appeal procedures, has not been released.