Republican Lawmaker Plans to Add Prediction Markets to Congressional Stock Ban Bill
Rep. Bryan Steil said restrictions in the House bill to ban insider stock trading by lawmakers should also apply to prediction markets like Polymarket and Kalshi. He indicated House leaders plan to add language covering those platforms, arguing members of Congress should not be trading on elections or public policy. The bill, H.R. 7008, would ban lawmakers, spouses, and dependents from buying publicly traded stocks, require advance public notice before sales, and impose fees and forfeiture of gains for violations. It currently does not explicitly cover digital assets. The push comes amid concerns that prediction markets could undermine market integrity or raise national security issues. House Oversight Chair James Comer has opened investigations into Polymarket and Kalshi over alleged insider trading, while the Senate has already passed a resolution banning members from using prediction markets.
