The U.S. Senate has banned senators from trading on prediction markets, with the chamber passing a resolution targeting potential insider trading advantages from non-public government information.
I applaud the Senate for passing this resolution to ban Senators and their offices from trading on prediction markets.
Minority Leader Chuck Schumer said on the Senate floor that it was "a good thing that the Senate is moving swiftly," per Politico, and urged the House and President Donald Trump's administration to enact similar rules. "Speaker Johnson should immediately do the same thing in the House," Schumer added.
The Senate's action follows a series of high-profile insider trading incidents involving prediction markets. In January, a pseudonymous Polymarket account wagered on Venezuelan President Nicolás Maduro being "out" by the end of the month, netting over $400,000 as a result.
