U.S. Representative Bryan Steil introduced the "Stop Lawmakers from Predicting Act," which aims to prohibit members of Congress, their spouses, and dependents from participating in prediction market trades related to government policies, political events, and public affairs outcomes to prevent profiting from non-public information. The bill stipulates that violators will be fined $2,000 or 10% of the transaction amount (whichever is higher) plus all illegal gains. The bill was proposed against the backdrop of the rapid growth of prediction market platforms Kalshi and Polymarket, and increasing concerns over insider trading, aiming to supplement existing regulations that prohibit lawmakers from trading stocks based on insider information. (The Block)