Republican lawmaker proposes prediction markets insider trading ban, not including White House officials
Bryan Steil introduced the Stop Lawmakers from Predicting Act to stop certain officials from betting on policy and political outcomes through prediction markets like Kalshi and Polymarket. The bill would bar members of Congress, their spouses, and dependent children from using event contracts tied to government policies, actions, or political results, including likely election outcomes. Violators would face a $2,000 penalty or 10% of the wager value. It does not broadly ban lawmakers from prediction markets or sports bets. If enacted, it would take effect 180 days later. The measure follows growing concern about insiders profiting from nonpublic information, but it notably does not cover White House officials such as the president and vice president. In parallel, the CFTC is continuing its legal push to assert federal control over prediction markets.
