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The U.S. Senate bans senators from participating in prediction market trading
ME News Report, May 1st (UTC+8), the U.S. Senate unanimously passed a resolution (S. Res. 708) prohibiting senators from participating in prediction market trading, effective immediately. The proposal was introduced by Bernie Moreno and aims to curb speculative trading using non-public information. Recently, multiple related incidents have drawn regulatory attention, including cases of individuals profiting from confidential information in prediction markets. Meanwhile, platforms like Kalshi and Polymarket are also 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. (Source: ODAILY)