Bipartisan Push to Ban Official Trading in Political Prediction Markets
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.