A House Republican introduces legislation aimed at reducing the risk of insider trading through prediction markets. The bill would bar members of Congress and their family members from placing “policy-related” wagers on prediction market platforms. The proposed restrictions are designed to cover bets tied to public policy information rather than general market or entertainment activity.
According to reporting, the bill does not broadly prohibit lawmakers from using prediction markets. It also does not explicitly ban members of Congress from placing sports-related bets or other non-policy wagers, and it is framed to target policy-linked trading that could be influenced by nonpublic information.
One account says the bill would not include White House officials in its ban, focusing the restriction on lawmakers and their close family members. Overall, the proposal seeks to draw a line between permissible use of prediction markets and wagers that could create insider trading concerns by linking policy outcomes to potentially confidential information.
