Summary
- The U.S. Senate unanimously passed a resolution that fully bans lawmakers and staff from participating in prediction-market betting.
- The measure is intended to prevent concerns over conflicts of interest tied to the use of inside information and the risk of undermining public trust.
- The restriction currently applies only to the Senate, but a similar ban is being pursued in the House, and prediction-market platforms including Polymarket said they support the move.
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The U.S. Senate has unanimously barred senators and their staff from participating in prediction-market betting.
The chamber passed the resolution unanimously, and the rule took effect immediately, Cointelegraph reported on May 30.
The measure is intended to prevent conflicts of interest stemming from the potential use of nonpublic information. Senator Bernie Moreno, who introduced the resolution, said bets placed using insider information could erode public trust.
Senate Democratic Leader Chuck Schumer said public officials should not be allowed to wager on wars, economic crises or elections.
The move follows growing controversy over a recent prediction-market betting case involving classified information tied to a military operation.
The restriction currently applies only to the Senate, but the House of Representatives is expected to pursue a similar ban. Prediction-market platforms including Polymarket support the measure.
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