US Senate Bans Members, Staff from Prediction Markets

The US Senate has unanimously passed a resolution banning its members and staff from engaging in prediction markets. Introduced by Republican Senator Bernie Moreno, the measure aims to eliminate conflicts of interest and prevent the use of sensitive, non-public information for financial gain. Senate Democratic leader Chuck Schumer supported the move, emphasizing that public officials should not use their positions to gamble on wars or elections, while calling for similar standards to apply to the broader administration. The decision follows recent controversies involving the use of classified information for betting on platforms like Polymarket, prompting industry leaders to express support for the new rule.

(Source：Cointelegraph)