House Republicans Pass Massive Legislation That Will Prevent Elected Members And Staff From Betting On Prediction Markets
House Republicans have advanced legislation that would prohibit members of Congress and their immediate families from trading on prediction markets tied to elections and government actions.
The House Administration Committee voted along party lines Wednesday to approve the bill, sending it to the full House for consideration.
The legislation, introduced by House Administration Committee Chairman Rep. Bryan Steil, would bar lawmakers, their spouses, and dependent children from participating in Washington-focused prediction markets involving election outcomes or government decisions.
The proposal comes as lawmakers in both chambers have increased scrutiny of prediction markets amid concerns that members of Congress could profit from nonpublic information obtained through their official duties.
Those concerns intensified after several high-profile trades involving events such as the capture of then-Venezuelan leader Nicolás Maduro, Google’s search results and developments related to the Iran conflict.
Earlier this year, the Senate unanimously adopted a resolution banning senators and Senate staff from participating in prediction markets altogether.
Unlike the Senate’s blanket prohibition, the House proposal is more narrowly focused on markets involving elections and government actions.
The committee vote exposed divisions over how broadly Congress should regulate prediction market activity.
Committee Republicans backed the legislation, arguing it addresses the appearance of conflicts of interest without unnecessarily restricting other forms of lawful wagering.
Committee Democrats opposed the measure, saying it leaves significant loopholes.
Rep. Joe Morelle, the committee’s ranking Democrat, argued the legislation does not go far enough.
“The Senate did it in a matter of minutes — no six-month grace period, no procedurally laborious process,” Morelle said.
“They just went to the floor with a two-page resolution and banned it all unanimously. We should do the same.”
Morelle criticized the House proposal as being “so filled with loopholes that it looks more like a sieve than a bill.”
Steil defended the legislation, arguing it appropriately targets markets where lawmakers could have access to information unavailable to the public.
He also questioned why a broader ban should prohibit family members from participating in sports-related prediction markets when they are already free to place similar wagers through sportsbooks or casinos.
Steil cited the example of a lawmaker’s college-age child placing a wager on a sporting event through a prediction market platform, arguing such activity should not be prohibited.
Instead, he said, the legislation focuses specifically on political and public policy markets where conflicts of interest could arise, Politico reported.
“Lawmakers elect to serve the American people, not to enrich themselves by wagering on outcomes from the decisions they make,” Steil said.
“We have a real opportunity to restore trust in Congress by taking necessary steps to eliminate even the appearance of impropriety.”
Supporters of the bill argue it strikes a balance by preventing lawmakers from profiting off government decisions while avoiding restrictions on unrelated forms of legal gambling.
Opponents contend Congress should adopt the Senate’s broader approach by banning lawmakers and staff from participating in prediction markets entirely.
The legislation now awaits consideration by the full House, where lawmakers will decide whether to move forward with the narrower Republican-backed proposal or pursue broader restrictions similar to those already adopted by the Senate.
The Senate approved a bipartisan measure banning members and their staff from using insider information to profit on prediction market platforms, in May.
The measure, pushed by Sen. Bernie Moreno, prevents senators and their aides from placing bets on platforms such as Polymarket and Kalshi. These platforms allow users to wager on real-world events, including elections, geopolitical developments, and other high-impact outcomes.
Moreno said the effort aims to eliminate potential conflicts of interest and restore public trust in Congress. “I don’t believe we should trade stocks at all. It’s completely insane,” Moreno said. “I think we should focus on our jobs and have our voters go, ‘Hey, this guy’s voting this way, because this is the right thing for the state,’” he said.
Serious Threat To Our Country' - Trump Issues Dire Warning To The Nation, Names The Biggest Challenge Americans Face
THE RED DILEMMA: Trump Outlines Midterm War Script at Road to Majority Summit After Socialist Swings Fracture New York Base
WASHINGTON, D.C. — JUNE 29, 2026 — President Donald Trump warned Friday that a wave of far-left victories in New York City’s Democratic primaries represents one of the greatest dangers facing the United States, arguing the results should serve as a wake-up call ahead of November’s midterm elections.
Speaking before thousands at the Faith and Freedom Coalition’s annual Road to Majority conference in Washington, Trump blasted the Democratic Party’s leftward shift after several candidates backed by New York City Mayor Zohran Mamdani scored major primary victories earlier this week.
“These ruthless communists will attack all religions, but in particular Christianity,” Trump told the audience.
“This is the greatest threat to our country since its founding.”
Trump’s remarks came just days after three progressive candidates supported by Mamdani won Democratic primary races in New York, including two members of the Democratic Socialists of America.
Their victories have fueled growing Republican efforts to portray the Democratic Party as increasingly dominated by its progressive wing heading into the 2026 midterm elections.
Trump argued that the movement extends beyond economic policy and represents a broader ideological threat.
At one point during his speech, the president described communists as “animals” who would assassinate their political opponents, though he did not offer evidence supporting that claim.
The remarks carried additional significance because Trump was speaking at the Washington Hilton, the same hotel where an armed man attempted to breach security while the president attended the White House Correspondents’ Association dinner in April.
Authorities later identified the suspect as 31-year-old California resident Cole Tomas Allen, who has pleaded not guilty to charges that he attempted to assassinate the president.
Security around Friday’s event appeared noticeably tighter, with additional guards stationed throughout the venue and several entrances blocked off.
Republicans have increasingly seized on the New York primary results as evidence that Democrats are moving further left while voters remain primarily concerned about inflation, housing costs and the broader economy.
Political observers have suggested the victories give Republicans fresh material as they seek to defend their narrow congressional majorities this fall.
The candidates backed by Mamdani defeated two incumbent House Democrats and another candidate supported by the Democratic establishment.
While Republicans frequently characterize Democratic Socialists as communists, democratic socialism generally advocates expanding government-run social programs through the electoral process rather than replacing democratic institutions.
Many candidates aligned with the movement support policies including universal health care, tuition-free public college, expanded child care programs, stronger labor protections and higher taxes on wealthy Americans.
Several have also made opposition to U.S. military aid to Israel and support for Palestinians central themes of their campaigns.
Democrats quickly rejected Trump’s characterization.
Aidan Johnson, a spokesman for the Democratic Congressional Campaign Committee, argued Republicans were attempting to distract voters from substantive issues.
“Know they can’t win on the issues, so we’re seeing them melt down in real time, resorting to ineffective boogeyman attacks,” Johnson said.
Trump’s appearance also highlighted some of the tensions within his own political coalition.
The president has remained popular with many evangelical Christians by backing policies such as protecting women’s sports and opposing biological males competing in female athletics.
At the same time, some pro-Israel Christians have criticized Trump’s ceasefire agreement with Iran, while some anti-abortion advocates have argued the administration has not gone far enough on pro-life priorities.
During Friday’s speech, Trump defended his handling of Iran and declared that his administration had successfully prevented Tehran from obtaining a nuclear weapon.
The Faith and Freedom Coalition gathering has long served as one of the Republican Party’s premier events for evangelical voters and conservative activists, Reuters reported.
With the midterm elections approaching, Trump’s speech offered a preview of what is likely to become a central Republican campaign message: portraying the Democratic Party’s progressive wing as increasingly driving the party’s agenda while urging voters to reject what Republicans view as an increasingly radical political movement.
