finance
U.S. Senate Unanimously Passes Rule Banning Senators From Prediction Market Trading
The U.S. Senate unanimously approved a rule prohibiting senators from trading on prediction markets, effective immediately. The decision follows recent insider trading incidents involving political candidates and a military member. Democratic lawmakers also urged federal regulators to impose broader restrictions on such markets.
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U.S. Senate unanimously passed a rule barring senators from trading on prediction markets effective immediately on Thursday, amid concerns about insider trading on platforms such as Kalshi and Polymarket. Lawmakers voted to ban themselves from trading on platforms including Kalshi and Polymarket.
The move came in response to rising worries over event contracts that can involve death or violence. On April 23, Master Sgt. U.S. Army Special Forces soldier, was arrested on an indictment accusing him of using classified information to make bets on Polymarket related to the American military mission that captured Venezuelan leader Nicolás Maduro.
Master Sgt. Gannon Ken Van Dyke won nearly $410,000 on wagers on Polymarket related to the American military mission that captured Venezuelan leader Nicolás Maduro, according to the Department of Justice.
U.S. or abroad, sports, and government actions without a valid economic hedging interest. U.S. Senate candidate and two candidates for the House of Representatives for political insider trading on their own campaigns.
Representative Greg Casar, a Democrat from Texas, and Senator Chris Murphy, a Democrat from Connecticut, spoke during a news conference at the US Capitol in Washington, DC, US, on March 17, 2026. The news conference on March 17, 2026, involved 'Bets Off Act' signage. CNBC and Kalshi have a commercial relationship that includes a CNBC minority investment.
