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The Senate bans members from trading on prediction markets. Following controversy over insider betting by $ALEO , the Senate News Service reports that with S. Res. 708 passing unanimously on Thursday, U.S. Senators are now prohibited from trading on prediction markets. The measure was introduced by Senator Bernie Moreno (R-Ohio), amending the Senate's standing rules, and took effect immediately. The ban addresses concerns over insider trading, which were heightened after a Polymarket account wagered that Venezuelan President Nicolás Maduro would "exit" before the end of January, ultimately earning $400k. Prosecutors subsequently arrested active-duty U.S. Army soldier Gannon Ken Van Dyke (38), accusing him of using confidential information to place bets. He has pleaded not guilty. Last edited on 2026-05-01 09:46:48.