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Senators just banned themselves from trading on prediction markets
The resolution, sponsored by Sen. Bernie Moreno (center), passed the Senate via unanimous consent. Chip Somodevilla/Getty Images 2026-04-30T17:40:30.766Z Senators are now banned from trading on prediction markets like Kalshi and Polymarket. The change came via a unanimous addition to Senate rules on Thursday. The resolution also urged the House, executive branch, and judicial branch to do the same. As of Thursday afternoon, senators can't trade on prediction markets like Kalshi or Polymarket. The Senate passed a resolution amending Senate rules to forbid members from making prediction market trades via a voice vote — meaning no senator objected, and a formal roll call vote was not taken.The resolution was introduced by Republican Sen. Bernie Moreno of Ohio last week. Could the US ban stock trading for Congress members? "Serving in Congress is an honor, not a side hustle," Moreno wrote on X after the resolution passed. "Americans deserve to know that their leaders are here for the right reason!"The resolution also urged the House, the executive branch, and the judiciary to enact similar rules.Kalshi CEO Tarek Mansour applauded the move, noting that his platform already bans members of Congress from trading.I applaud the Senate for passing this resolution to ban Senators and their offices from trading on prediction markets.Kalshi already proactively blocks members of congress and enforces against insider trading. This is a great step to increase trust in our markets by making it… https://t.co/fELpqZH5Cf— Tarek Mansour (@mansourtarek_) April 30, 2026 The resolution's passage comes amid broad public concerns about the risk of insider trading on prediction markets.Lawmakers have introduced a variety of bills to regulate the industry, including some that also would've banned members of Congress from trading on the platforms.Last week, the Department of Justice indicted a US Army soldier for using classified information about the raid to capture Venezuelan Leader Nicolás Maduro to make a lucrative trade on Polymarket. He pleaded not guilty to the charges earlier this week in federal court. A judge agreed to a $250,000 bail package that included travel restrictions.
U.S. senators ban themselves from prediction markets trading
"Bets Off Act" signage as Representative Greg Casar, a Democrat from Texas, left, and Senator Chris Murphy, a Democrat from Connecticut, speak during a news conference at the US Capitol in Washington, DC, US, on Tuesday, March 17, 2026.Stefani Reynolds | Bloomberg | Getty ImagesThe U.S. Senate on Thursday unanimously passed a rule barring senators from trading on prediction markets effective immediately.The move came amid rising concern about insider trading on prediction market platforms such as Kalshi and Polymarket, and about event contracts that can involve death or violence.On April 22, Kalshi said it had suspended and fined one U.S. Senate candidate and two candidates for the House of Representatives for political insider trading on their own campaigns.On April 23, a U.S. Army Special Forces soldier, Master Sgt. Gannon Ken Van Dyke, was arrested on an indictment accusing him of classified information to make bets on Polymarket related to the American military mission that captured Venezuelan leader Nicolás Maduro.Van Dyke, who was involved in that mission, won nearly $410,000 on those wagers, according to the Department of Justice.Earlier on Thursday, a group of Democratic members of Congress called on the Commodity Futures Trading Commission to issue a rule "that prevents insider trading and corruption in the market and prohibits event contracts on the outcome of elections, war and military actions in the U.S. or abroad, sports, and government actions without a valid economic hedging interest."Disclosure: CNBC and Kalshi have a commercial relationship that includes a CNBC minority investment.
Moreno seeking to ban senators from trading on prediction markets
When the Commodity Futures Trading Commission announced in February that it would protect the federal regulation of prediction markets against states in court, Moreno supported the effort. "Clear lines of delineation and clarity on regulations is essential for American led innovation," he wrote.
Senator Moreno To Introduce Resolution On Prediction Market Ban
The post Senator Moreno Moves to Ban Senators From Prediction Markets Amid Insider Trading Fears appeared on BitcoinEthereumNews.com. Senator Bernie Moreno ...
