US Congressman Ritchie Torres will introduce a bill to prohibit federal officials from using insider information to trade in prediction markets.

Mars Finance reports that according to Theblock, U.S. Representative Ritchie Torres will introduce the “2026 Prediction Market Financial Integrity Act,” which prohibits federal officials from trading in prediction markets using insider information. The move was prompted by a newly created Polymarket account that placed approximately $32,000 in bets on Maduro’s ousting before the Venezuelan president was captured by U.S. forces, ultimately earning over $400,000. The bill will ban federally elected officials, political appointees, and administrative employees from trading prediction market contracts related to government policies or political outcomes when they possess or may obtain significant non-public information through their official duties.