hold on there's just too much going on in Congress lmao...
Bans insider political betting by federal officials.
Rep. Budzinski (D-IL), with Reps. Smith (R-NE) and Magaziner (D-RI)
Introduced, referred to three committees.
The PREDICT Act would make it illegal for members of Congress, their families, the President, Vice President, political appointees, senior executive branch employees, and federal judges to trade on prediction markets tied to political events. The bill's sponsors are Rep. Nikki Budzinski (D-IL), Rep. Adrian Smith (R-NE), and Rep. Seth Magaziner (D-RI). It was referred to the Committees on Oversight and Government Reform, House Administration, and Judiciary, meaning it needs to pass through those before a House vote.
Introduced Mar 25, 2026
This bill is under review by a committee. The committee holds hearings, gathers testimony from experts and stakeholders, and may propose amendments. If the committee votes to advance it, the bill moves to the full chamber for debate and a vote.
This law targets prediction markets where people wager on events like election results or policy decisions. If passed, covered individuals—including members of Congress, top administration officials, and judges—would be barred from trading in these markets. If they break the rule, they face a fine equal to 10% of the transaction value and must surrender any profits. Importantly, they cannot use official allowances, campaign funds, or other government resources to pay these fines, ensuring personal accountability.
Supporters Say
Supporters say it prevents conflicts of interest when officials use nonpublic information to bet on political events.
Critics Say
Critics argue it overreaches by including a broad range of officials and may infringe on personal financial freedoms.
Supporters, likely including ethics watchdogs, contend that officials with access to sensitive information could exploit prediction markets, undermining public trust. Critics may point out that the ban covers many low-level appointees and judges who rarely have such inside knowledge, and that existing insider trading laws already cover abuse. The debate centers on balancing ethics with individual liberty.