- 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.
"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
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.
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