House Republicans Seek to Add Prediction Market Limits to Congressional Trading Ban Bill, Eye Summer Vote

House Republicans are moving to add limits on prediction market trading to a bill that would bar members of Congress from trading stocks. The proposal would not ban prediction markets outright. Instead, it would restrict trading in certain contracts that could create conflicts of interest.

Cointelegraph reported on June 5 that Brian Steil, chairman of the House Administration Committee, plans to add prediction-market provisions to H.R. 7008, the pending congressional stock-trading ban bill.

Steil said the provisions would be added before the measure reaches the House floor. He expects House leadership to schedule a vote this summer. The effort comes as scrutiny grows over politicians' financial transactions and potential conflicts of interest.

The proposal would not fully bar public officials from using prediction markets. Contracts tied to sports events such as the Super Bowl and entertainment would still be allowed, while contracts linked to elections and public policy would face restrictions, the report said.