30 Democrats, including former House Speaker, support anti-insider trading legislation targeting prediction platforms

GateUser-6433627c · 2026-01-09T16:36:25+00:00

Democrats propose the "2026 Financial Prediction Market Public Integrity Act" to prevent elected officials from betting on political events, amid insider trading concerns sparked by the arrest of Nicolás Maduro in a gambling incident. The move aims to uphold market integrity.

GateUser-6433627c

2026-01-09 16:36:25

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On January 10, according to The Block, 30 Democrats, including former House Speaker Nancy Pelosi, are actively supporting legislation that would prevent elected officials from engaging in political-related gambling on prediction markets, following gambling incidents related to the arrest of former Venezuelan President Nicolás Maduro. The bill, titled the “2026 Financial Prediction Market Public Integrity Act,” was formally introduced on Friday by New York State Assemblyman Rich Torres. Previously, a Polymarket account bet that Maduro would “step down” by the end of this month and profited $400,000, raising concerns about insider trading, and the introduction of the bill comes amid growing public attention to this issue.

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