Senators propose ban on US gov’t officials doing prediction market trading

The bill comes as an anonymous user on Polymarket made more than $500,000 by taking a position that the United States would strike Iran hours before it happened.

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Two United States Democratic Senators are set to introduce legislation barring members of Congress, the president, and vice president from trading event contracts on prediction market platforms like Kalshi and Polymarket.

Senators Jeff Merkley, a Democrat from Oregon, and Amy Klobuchar, a Democrat from Minnesota, are set to introduce on Thursday a bill banning lawmakers from trading, according to CNBC, which first reported the story.

Senators propose ban on US gov’t officials doing prediction market trading

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