Senate quietly bans lawmakers from betting on prediction markets
The Senate has passed a rule banning lawmakers and their staff from betting on prediction markets such as Kalshi and Polymarket. The legislation, introduced by Sen. Bernie Moreno, aims to prevent conflicts of interest and bolster public trust in Congress. Senate Minority Leader Chuck Schumer endorsed the ban and urged the House to adopt similar restrictions.
- ▪The Senate unanimously passed a rule banning senators and staff from participating in prediction markets.
- ▪The ban was introduced by Sen. Bernie Moreno, who argued it would eliminate 'side hustles' and improve institutional integrity.
- ▪Senate Minority Leader Chuck Schumer called on House Speaker Johnson to implement equivalent rules in the House.
Opening excerpt (first ~120 words) tap to expand
Senate Senate quietly bans lawmakers from betting on prediction markets Chuck Schumer called on Speaker Johnson to immediately install similar guardrails in the House By Alex Miller Fox News Published May 4, 2026 7:30am EDT Facebook Twitter Threads Flipboard Comments Print Email Add Fox News on Google close Video FBI raids the home of Polymarket CEO after platform predicted Trump's election victory Fox News’ Chanley Painter on the details of the FBI raid and the company calling it ‘political retribution’ after the platform correctly predicted Trump winning the election. NEWYou can now listen to Fox News articles! Senators can no longer use insider information to profit on emerging prediction market platforms.
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