Soft
Feb 27, 2026

Senate Unanimously Bans Members From Betting On Prediction Markets

Senate Unanimously Bans Members From Betting On Prediction Markets

The Senate has approved a bipartisan measure banning members and their staff from using insider information to profit on prediction market platforms, marking a rare unanimous action that took effect immediately. The rule change was adopted before lawmakers left Washington for a weeklong recess.

The measure, pushed by Sen. Bernie Moreno, prevents senators and their aides from placing bets on platforms such as Polymarket and Kalshi. These platforms allow users to wager on real-world events, including elections, geopolitical developments, and other high-impact outcomes.

Moreno said the effort aims to eliminate potential conflicts of interest and restore public trust in Congress. “I don’t believe we should trade stocks at all. It’s completely insane,” Moreno said. “I think we should focus on our jobs and have our voters go, ‘Hey, this guy’s voting this way, because this is the right thing for the state,’” he said.

The rule change passed unanimously and immediately amended Senate ethics rules, requiring no action from the House or the president. It applies specifically to senators and Senate staff.

Senate Minority Leader Chuck Schumer praised the move on the Senate floor and urged the House to adopt a similar standard. “Speaker Johnson should immediately do the same thing in the House,” Schumer said.

Other posts