Lawmakers seek ban on U.S. officials trading prediction-market bets

Sen. Jeff Merkley and Sen. Amy Klobuchar introduced a bill to bar the president, vice president, and members of Congress from trading event contracts on prediction markets, with fines starting at $10,000 for violators and broader limits for senior officials. The measure follows scrutiny of bets tied to the Iran strikes and concerns about insider information, and while Kalshi supports more regulation, the proposal faces an uphill path in a Republican-controlled Congress.