Overview
- Sen. Bernie Moreno said he will introduce a resolution to bar senators from using prediction markets such as Polymarket and Kalshi and will ask for unanimous approval.
- Sen. Adam Schiff called for legislation to block event bets tied to war, assassination, terrorism and death and to stop anyone with insider information from wagering.
- Federal agents charged Army service member Gannon Ken Van Dyke with using classified details of a Venezuela operation to win about $400,000 on Polymarket contracts about Nicolás Maduro’s removal.
- Kalshi said it suspended three political candidates for betting on their own races, reflecting tighter platform rules as trading volume on prediction markets has surged to tens of billions over the past year.
- Lawmakers have floated a range of bills, from the PREDICT Act that targets officials’ trading to broad bans proposed in the BETS OFF and STOP Corrupt Bets Acts, though past efforts to police such activity have struggled to pass.