A ‘no-brainer’: Senate unanimously bans members and staff from using prediction markets
11 sources covered this · see comparison → ⚠ Left-only
The U.S. Senate unanimously passed a resolution banning senators and their staff from participating in prediction markets, citing ethical concerns over the use of sensitive information for financial gain. The move follows recent allegations of insider betting involving classified information and growing scrutiny of platforms like Polymarket and Kalshi. Senate leaders from both parties described the ban as a necessary step to preserve public trust in government institutions.
Opening excerpt (first ~120 words) tap to expand
The Senate has approved a bipartisan resolution to prevent its own members from using prediction markets, banning senators who are often privy to sensitive information from making bets on upcoming events.Recommended Video The measure that passed unanimously by voice vote Thursday was written as a change to the Senate’s rules, so it will go into effect immediately. It comes a week after a U.S. special forces soldier was charged with using classified information to bet on the January capture of Venezuela’s then-president, Nicolas Maduro, and as lawmakers increasingly voice concerns about who might be making public wagers on the war with Iran.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Fortune.
Discussion
0 commentsMore from Fortune
