US Senate Passes Resolution Banning Senators From Prediction Market Trading
The US Senate unanimously authorised a decision from Senator Bernie Moreno that bars sitting senators from buying and selling on prediction markets. The measure took impact instantly beneath the chamber’s inside Standing Rules.
The voice vote got here one week after Moreno launched the decision on April 24. It targets occasion contracts supplied by platforms equivalent to Polymarket and Kalshi.
Inside the Prediction Market Ban
Moreno mentioned the decision amends Rule XXXVII of the Senate Standing Rules. It bars senators from coming into agreements that rely on the incidence, nonoccurrence, or scope of a selected occasion.
That language immediately captures occasion contracts on Polymarket and Kalshi. Users on these platforms wager on elections, laws, financial knowledge releases, and geopolitical outcomes.
An modification from Senator Alex Padilla narrowed the textual content. The change prevents the rule from sweeping in typical monetary merchandise equivalent to insurance coverage insurance policies. Enforcement runs by way of the Senate Ethics Committee.
Industry Backs the Move
Kalshi chief government Tarek Mansour applauded the rule. He famous that the platform already blocks members of Congress and polices insider buying and selling internally.
“I applaud the Senate for passing this decision to ban Senators and their workplaces from buying and selling on prediction markets… Now, let’s cross this within the House!” said Mansour.
The rule doesn’t prolong to House members or congressional employees. Candidates, government department officers, and relations of senators are additionally excluded. That carve-out leaves room for oblique publicity to occasion contracts.
The decision arrives throughout a wave of broader 2026 legislation targeting prediction markets, together with payments geared toward all federal officers.
Senate Majority Leader Chuck Schumer publicly praised the measure forward of the vote. House motion would require a separate decision. That makes the decrease chamber’s response the subsequent check of bipartisan urge for food.
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