Bipartisan Push to Ban Official Trading in Political Prediction Markets
TL;DR Summary
A bipartisan bill dubbed the PREDICT Act would bar members of Congress, the president, vice president and senior executive branch staff from trading in political prediction markets (e.g., Polymarket, Kalshi), extending to dependents and staff, with penalties including a 10% fine of the transaction value and profits owed to the U.S. Treasury. The proposal arrives as lawmakers push similar restrictions and platforms adjust rules to curb potential insider trading in these markets.
Topics:nation#congressional-trading-ban#executive-branch#insider-trading#politics#predict-act#prediction-markets
- Lawmakers introduce bill to prohibit members of congress, president from prediction market trading Politico
- Ricketts introduces insider trading measure in Senate, Fischer co-sponsors Rural Radio Network
- Cassidy's bill targets Congressional stock purchases State Affairs
- Bipartisan effort to crack down on congressional stock trading gains momentum WPTA | 21Alive | Fort Wayne, IN
- New Bill: Representative Haley M. Stevens introduces H.R. 7852: No Getting Rich in Congress Act Quiver Quantitative
Reading Insights
Total Reads
0
Unique Readers
2
Time Saved
8 min
vs 9 min read
Condensed
96%
1,648 → 72 words
Want the full story? Read the original article
Read on Politico