House GOP eyes summer vote on prediction market restrictions for lawmakers
House Republicans are moving to attach prediction market restrictions to a stalled stock trading ban bill. House Administration Committee Chair Bryan Steil plans to add rules to H.R. 7008 before it reaches the floor, combining limits on lawmakers’ stock trading with new restrictions on their use of prediction markets. Steil’s proposal would not ban prediction markets outright for members of Congress. Instead, it would restrict contracts tied to elections or public policy while still allowing markets on sports and entertainment outcomes. He said Congress still lacks clear rules for how members should interact with these markets. The effort comes as scrutiny of prediction markets grows, especially after their high-profile use around the 2024 presidential election. Separately, reporting has raised questions about Polymarket promotions, including payments tied to its marketing chief and undisclosed influencer posts.
