- The U.S. Senate has unanimously passed a resolution that immediately bans its members from trading on prediction markets.
- The move targets platforms like Kalshi and Polymarket amid concerns over insider trading and contracts involving violence or death.
- The action follows recent incidents, including a senator profiting from inside information and military personnel allegedly using classified data for betting.
The United States Senate unanimously passed a resolution on April 30, 2026, immediately banning its members from trading on prediction markets. This decisive action, as reported by Watcher.Guru, targets speculative platforms to curb ethical breaches. Senator Moreno spearheaded the measure, stating “United States Senators have no business engaging in speculative activities like prediction markets while collecting a taxpayer-funded paycheck, period.”
However, the resolution comes directly after a high-profile case where a senator cashed in using inside information on a prediction platform. Minority Leader Chuck Schumer supported the swift move, urging the House and administration to enact similar rules. He specifically said on the Senate floor that “Speaker Johnson should immediately do the same thing in the House.”
Consequently, this legislative crackdown addresses a pattern of misconduct extending beyond Congress. For instance, Kalshi suspended and fined one Senate candidate and two House candidates on April 22 for political insider trading on their own campaigns. Meanwhile, a separate incident saw a U.S. Army Special Forces soldier arrested for allegedly using classified information to bet on Polymarket regarding a military mission.
Schumer also indicated plans to expand these prohibitions to administration officials after the Senate’s mid-May break. He will work to ensure they also “can’t get rich off betting markets.” The push mirrors ongoing debates in Congress about banning stock trading to prevent insider advantages.
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