Lawmakers Move to Block Officials From Prediction Markets

[lingriiddd]

The Polymarket incident has prompted a swift response in Washington, where lawmakers are seeking to curb potential abuses of prediction markets. US Representative Ritchie Torres is reportedly preparing legislation that would ban federal officials from trading on platforms that allow bets on political and policy outcomes.

Dubbed the Public Integrity in Financial Prediction Markets Act of 2026, the proposal would prohibit elected officials, political appointees, and executive branch employees from buying or selling contracts on platforms such as Polymarket and Kalshi. The goal is to prevent insiders from profiting off events they may influence or foresee.

[cryptohog]

banning politicians from betting on Polymarket feels like common sense, which is prob why it needs a law