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The U.S. Senate bans senators from participating in prediction market trading
Odaily Planet Daily News: The U.S. Senate unanimously passed a resolution (S. Res. 708) prohibiting senators from participating in prediction market trading, which takes effect immediately. The proposal was introduced by Bernie Moreno and aims to curb speculative trading using non-public information.
Recent incidents have raised regulatory concerns, including individuals profiting from confidential information in prediction markets. Meanwhile, platforms like Kalshi and Polymarket are strengthening internal controls to prevent insider trading.
At the state level, New York and Illinois have also implemented similar measures to restrict public officials from using non-public information to participate in prediction markets.