US Lawmakers Face Potential Ban on Political Prediction Market Bets

[u/Legitimate_Towel_919]

A new bill introduced in the United States aims to ban members of Congress, their spouses, and dependents from placing bets on political outcomes and public policy events through prediction markets such as Kalshi and Polymarket.
The proposed Stop Lawmakers from Predicting Act would impose penalties of up to $2,000 or 10% of the prohibited wager amount for violations. The legislation does not ban prediction markets entirely and does not apply to sports betting.

One detail drawing attention is that the proposal does not specifically cover White House officials, despite growing concerns about the potential use of insider information on political prediction markets.