Blab Politics
House Republicans Advance Bill to Ban Congress Members from Political Prediction Markets
House Republicans have moved a new bill that would bar members of Congress and their families from participating in political prediction markets. The Stop Lawmakers from Predicting Act was approved by the House Administration Committee on Wednesday, June 24, 2026, and will now go to the full House for a vote.
Introduced by Rep. Bryan Steil, the measure prohibits lawmakers, their spouses and dependent children from placing bets on markets that forecast election outcomes or government actions. Violations would trigger penalties of at least $2,000 or 10 % of the transaction value, and the bill bars the use of allowances, contributions or donations to cover those fines.
The House action follows a unanimous Senate resolution adopted in April 2026 that banned senators and their staff from betting on prediction markets such as Polymarket and Kalshi, effective immediately and with no grace period. The resolution, introduced by Republican Senator Bernie Moreno, was a resolution, not a bill, and covered only senators and staff.
Democratic lawmakers have criticized the House bill as insufficient. Rep. Joe Morelle said the proposal is full of loopholes and would not prevent insider trading. He compared it to the Senate resolution, which he said was passed in minutes and without procedural delays.
The House bill expands the scope to include members of the House, their spouses and dependent children. It also sets a 180‑day period before it takes effect after House approval, giving lawmakers time to adjust. The bill’s design reflects concerns that prediction markets—where participants trade contracts that pay out based on the outcome of political or policy events—could give insiders an advantage.
Platforms such as Kalshi and PredictIt have faced scrutiny over the legality of political betting and concerns about election integrity. Steil said the legislation is intended to restore public trust and prevent lawmakers from profiting off insider information, adding that lawmakers should focus on policy-making rather than wagering on outcomes.
The House Administration Committee voted 5‑4 along party lines to advance the bill. The next step is a floor vote in the full House, after which the bill would need to be considered by the Senate and passed by both chambers before it could become law.
If passed, the Stop Lawmakers from Predicting Act would create a legal framework that prohibits congressional participation in political prediction markets, imposes financial penalties for violations, and restricts the use of public funds to cover those penalties. The bill’s status remains pending a House floor vote, and its future will depend on bipartisan support and the Senate’s willingness to adopt a similar measure.
Introduced by Rep. Bryan Steil, the measure prohibits lawmakers, their spouses and dependent children from placing bets on markets that forecast election outcomes or government actions. Violations would trigger penalties of at least $2,000 or 10 % of the transaction value, and the bill bars the use of allowances, contributions or donations to cover those fines.
The House action follows a unanimous Senate resolution adopted in April 2026 that banned senators and their staff from betting on prediction markets such as Polymarket and Kalshi, effective immediately and with no grace period. The resolution, introduced by Republican Senator Bernie Moreno, was a resolution, not a bill, and covered only senators and staff.
Democratic lawmakers have criticized the House bill as insufficient. Rep. Joe Morelle said the proposal is full of loopholes and would not prevent insider trading. He compared it to the Senate resolution, which he said was passed in minutes and without procedural delays.
The House bill expands the scope to include members of the House, their spouses and dependent children. It also sets a 180‑day period before it takes effect after House approval, giving lawmakers time to adjust. The bill’s design reflects concerns that prediction markets—where participants trade contracts that pay out based on the outcome of political or policy events—could give insiders an advantage.
Platforms such as Kalshi and PredictIt have faced scrutiny over the legality of political betting and concerns about election integrity. Steil said the legislation is intended to restore public trust and prevent lawmakers from profiting off insider information, adding that lawmakers should focus on policy-making rather than wagering on outcomes.
The House Administration Committee voted 5‑4 along party lines to advance the bill. The next step is a floor vote in the full House, after which the bill would need to be considered by the Senate and passed by both chambers before it could become law.
If passed, the Stop Lawmakers from Predicting Act would create a legal framework that prohibits congressional participation in political prediction markets, imposes financial penalties for violations, and restricts the use of public funds to cover those penalties. The bill’s status remains pending a House floor vote, and its future will depend on bipartisan support and the Senate’s willingness to adopt a similar measure.
