Lawmaker Introduces Resolution to Ban House Trading on Prediction Markets

A Republican lawmaker introduced a resolution that would change House rules to ban members of Congress and their staff from trading on prediction markets. The resolution mirrors a similar measure the Senate approved by unanimous consent last week. If adopted, the prohibition would apply to both lawmakers and their aides, restricting their ability to buy and sell contracts tied to political, economic or other events.

Prediction markets allow participants to place bets on the outcomes of future events, with prices reflecting the perceived probability of those outcomes. Such platforms have grown in popularity in recent years, including for forecasting election results and policy decisions.

Congress has previously faced criticism over stock trading by lawmakers, leading to calls for tighter restrictions on personal financial activities that could create conflicts of interest. The new focus on prediction markets follows concerns that trading in event contracts could raise similar issues.

The Senate acted first on the matter, approving its ban without opposition last week. The House resolution seeks to align the chamber's rules with that change. The resolution was introduced as lawmakers continue to debate broader ethics reforms. No immediate vote schedule has been announced for the proposal.