Senators ban themselves from prediction markets after candidates bet on own races
US senators unanimously voted to ban themselves from participating in prediction markets following revelations that congressional candidates had bet on their own campaigns. The move, led by Senator Bernie Moreno and expanded by Senator Alex Padilla, amends Senate ethics rules to prohibit speculative trading by senators and their staff. Padilla also called for broader legislation to address alleged insider trading and corruption within the Trump administration.
- ▪The Senate passed a resolution banning senators from prediction market trading by unanimous consent.
- ▪Three congressional candidates were caught betting on their own races, leading to fines and suspensions by Kalshi.
- ▪Senator Padilla is pushing for legislation to target potential insider trading by Trump administration officials.
- ▪Kalshi fined and suspended candidates, including a $6,229.30 penalty for Virginia Senate candidate Mark Moran.
- ▪Prediction markets Polymarket and Kalshi support the Senate ban and already prohibit such trading on their platforms.
Opening excerpt (first ~120 words) tap to expand
No bets Senators ban themselves from prediction markets after candidates bet on own races Senator decries “blatant, brazen corruption,” wants to target Trump admin next. Jon Brodkin – May 1, 2026 1:51 pm | 9 The US Capitol in Washington, DC on Wednesday, April 22, 2026. Credit: Getty Images | Bloomberg The US Capitol in Washington, DC on Wednesday, April 22, 2026. Credit: Getty Images | Bloomberg Text settings Story text Size Small Standard Large Width * Standard Wide Links Standard Orange * Subscribers only Learn more Minimize to nav US senators voted unanimously to ban themselves from making bets on prediction markets yesterday, about a week after Kalshi said it caught three congressional candidates betting on their own campaigns.
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