As the House faces growing calls to ban trading on prediction markets by members and staff, some are taking things into their own hands.
When Rep. Seth Moulton, D-Mass., announced a new internal policy for his office in March, he described it as a way to make a stand as platforms like Kalshi and Polymarket become a “playground for corrupt insiders.”
Now others are following suit, hoping to clean up Congress’ image and feeling the pressure as the House lags behind the Senate, which adopted a chamber-wide rule change at the end of April.
“It’s absolutely insane that members and staff can place bets off of inside information,” Rep. Seth Magaziner, D-R.I., said. “This is public service, right? People shouldn’t be treating it like a piggy bank.”
Magaziner is another member who has formalized a prediction market policy in his office. Others on the growing list include Reps. Ashley Hinson, R-Iowa, and Eugene Vindman, D-Va.
