politics
Rep. Hinson Introduces Resolution to Prohibit Lawmakers and Staff from Trading on Political Prediction Markets
Hinson's measure would amend House rules to prohibit members and staff from betting on platforms such as Polymarket or Kalshi, following unanimous Senate passage last week. The Iowa Republican, who is running for Senate, called for immediate floor action while the House remains on recess until May 12.
May 7, 6:57 PM·2m read1 source
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Rep. Ashley Hinson (R-IA) introduced a resolution on Thursday that would amend House rules to prohibit members and their staff from placing bets on prediction market platforms such as Polymarket or Kalshi. ” The House is on recess until May 12.
The Washington Examiner has reached out to Speaker Mike Johnson’s (R-LA) office for comment. “Members of Congress shouldn’t be able to use insider knowledge to make a profit. We should take immediate action to ensure DC politicians can’t make money off of policies they are influencing,” Hinson said in a statement.
Hinson’s resolution also calls on both the White House and the judicial branch to establish similar rules for themselves. The Senate passed a similar measure unanimously last week that banned senators and Senate employees from using prediction market platforms.
“United States Senators have no business engaging in speculative activities like prediction markets while collecting a taxpayer-funded paycheck, period.
Serving in Congress should never be about finding new ways to profit; it should be about delivering results for the American people,” Sen. Bernie Moreno (R-OH), who spearheaded the legislation, said in a statement. Concerns over the use of prediction markets have steadily grown over the last several months after a series of high-profile bets on political events netted individuals thousands of dollars in winnings.
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