GOP Rep Introduces Amendment to Curb Congress Members' Prediction Markets Betting (KALSHI:Private)
The measure would also impose a $2,000 or 10% fee on insider bets and still allow nonpolitical wagers such as sports.
- On Thursday, House Administration Committee Chairman Bryan Steil introduced the "Stop Lawmakers From Predicting Act" to ban members of Congress, their spouses, and dependent children from placing political or policy-related wagers on prediction markets.
- Growing scrutiny of platforms like Kalshi and Polymarket prompted the legislation after analysts identified suspected insider trading on bets regarding the Iran conflict and the death of Iranian Supreme Leader Ali Khamenei.
- Violators face a fee of $2,000 or 10% of the transaction value, whichever is greater, plus any gains. "Lawmakers should be writing policy, not wagering on its outcome," Steil said.
- Backed by House Speaker Mike Johnson and President Donald Trump, the proposal is being attached to a broader legislative package that would also ban members of Congress from purchasing new individual stock shares.
- The Senate adopted a rule change earlier this year banning lawmakers from betting on prediction markets, but this House bill must pass both chambers to become law and currently lacks Democratic support.
13 Articles
13 Articles
New bill would ban lawmakers, their families from betting on prediction markets
A new bill would ban lawmakers in Congress from placing bets on prediction markets related to public policy issues and elections that they could be in a position to profit from by using insider information.The Stop Lawmakers From Predicting Act was introduced Thursday by House Administration Committee Chairman Bryan Steil, R-Wis., which would ban members of Congress as well as their spouses and dependent children from placing a wager on a predic…
Steil Bill Targets Lawmakers’ Prediction-market Bets
House Administration Chairman Bryan Steil introduced the Stop Lawmakers from Predicting Act on June 18, 2026. The bill would prohibit Members of Congress, their spouses and dependent children from wagering on public policy issues or political outcomes, making prediction-market activity a congressional ethics issue. The proposal affects lawmakers and immediate family members who might use prediction markets tied to government action, specific pol…
Congress prediction market ethics trades bill introduced
A new House proposal would block members of Congress and their immediate families from taking part in certain prediction market trades linked to government decisions, political developments, and information obtained through public service. House Administration Committee Chairman Bryan Steil introduced the Stop Lawmakers from Predicting Act on June 18. The measure seeks to update federal ethics rules by preventing lawmakers, spouses, and dependen…
Prediction Market Scrutiny Grows as Steil Introduces House Ban
Why Is Congress Targeting Prediction Market Bets? Republican Rep. Bryan Steil has introduced legislation aimed at preventing lawmakers and their immediate families from profiting from prediction markets tied to political outcomes, government action, and public policy decisions. The bill, called the Stop Lawmakers from Predicting Act, would prohibit members of Congress, their spouses, and dependent children from placing wagers on markets involvin…
Coverage Details
Bias Distribution
- 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
