US Senate Passes Resolution Banning Senators From Prediction Market Trading
The US Senate unanimously passed a resolution banning sitting senators from trading event contracts on platforms like Polymarket and Kalshi.Summary
The US Senate has unanimously approved a resolution introduced by Senator Bernie Moreno that prohibits senators from trading on prediction markets. By amending Rule XXXVII of the Senate Standing Rules, the measure bars senators from wagering on the outcomes of specific events, such as elections or economic data.
Supported by platform executives like Kalshi's Tarek Mansour, the rule is enforced by the Senate Ethics Committee and includes adjustments to exclude standard financial products like insurance. While the ban currently only applies to senators, it arrives amidst broader legislative efforts to regulate prediction market activity among federal officials, with potential future action pending in the House of Representatives.
(Source：BeInCrypto)