Sens. Kirsten Gillibrand and Dave McCormick introduce a bill banning members of the legislative and executive branches from trading on prediction markets (Jason Beeferman/Politico)
Sens. Kirsten Gillibrand and Dave McCormick have introduced a bill that would prohibit members of the legislative and executive branches from participating in prediction markets. The proposed legislation aims to prevent potential conflicts of interest and misuse of non-public information. The bill has not yet advanced beyond introduction and no vote has been scheduled.
- ▪Sens. Kirsten Gillibrand and Dave McCormick introduced a bill banning legislative and executive branch officials from trading on prediction markets.
- ▪The bill seeks to prevent conflicts of interest and the use of insider information for financial gain.
- ▪Prediction markets allow users to bet on future events, including political outcomes.
- ▪The legislation does not apply to the judicial branch.
- ▪No official response from the White House or congressional leadership has been released regarding the bill.
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