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Democrats Question Game-Like Trading Apps at House Hearing

  • Focus is on addictive nature of apps that use confetti, nudges
  • Chair Maxine Waters says ‘legislative steps may be necessary’
Maxine Waters
Maxine WatersPhotographer: Andrew Harrer/Bloomberg

Democrats renewed their focus on the gamification of investment apps as they weighed potential reforms during a second hearing in the wake of wild swings in shares of GameStop Corp. and others.

“As the events in January cast a spotlight on gaps in regulation of our capital markets, the committee must assess what legislative steps may be necessary,” House Financial Services Committee Chairwoman Maxine Waters said Wednesday, adding that she plans a third hearing to question U.S. regulators.