US Senators Todd Young, Elissa Slotkin, John Curtis, and Adam Schiff have introduced the Public Integrity in Financial Prediction Markets Act of 2026.
The bipartisan bill would prohibit federal officials and government employees from using material nonpublic information to trade on prediction market contracts offered on any US or foreign platform.
Follow us on X to get the latest news as it happens
The bill arrives after months of escalating alarm over well-timed wagers on prediction market platforms. The President, Vice President, members of Congress, congressional staffers, political appointees, and employees of executive agencies or independent regulatory bodies all fall under its scope.
The bill defines “material nonpublic information” as anything a reasonable investor would consider important when deciding whether to trade a prediction market contract that is not publicly available.
Furthermore, violators face fines equal to double their profit or $500, whichever is greater. Any covered transaction exceeding $250 must be reported to a supervising ethics office within 30 days. It also includes the contract name, price, platform used, and the final profit or loss.
A companion bill landed in the House earlier. Representatives Adrian Smith and Nikki Budzinski filed the PREDICT Act. It extends restrictions to officials’ spouses and dependents. That bill imposes a 10% fine on the transaction value, plus full disgorgement of profits to the US Treasury.
These bills are part of a much broader legislative wave, with many prediction market bills dropping recently. Others include the DEATH BETS Act, the Prediction Markets Security and Integrity Act, the Prediction Markets Are Gambling Act, and more.
Prediction market regulation is fast becoming a consensus priority across both parties.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
The post Senate Bill Takes Aim at Officials Betting on Prediction Markets With Insider Information appeared first on BeInCrypto.
Source: https://beincrypto.com/senate-bill-officials-prediction-market-trading/
