House GOP moves to limit lawmakers' prediction market bets

Republicans in the US House are moving to add prediction market restrictions to a stalled congressional stock trading ban. House Administration Committee Chair Bryan Steil plans to attach those provisions to H.R. 7008 before it reaches the floor and expects leaders to schedule a vote.

The measure would combine limits on stock trading with new curbs on lawmakers' use of prediction markets. Steil’s proposal would not ban prediction markets outright for members of Congress but would restrict certain types of contracts. Bets tied to sports or entertainment would remain allowed, while contracts tied to elections or public policy would be limited.

"I don't think this is a critique of the underlying product one way or the other," Steil said, adding that the House still lacks clear rules for how members should engage with these markets. Separately, Politico reported that influencers promoted Polymarket after receiving payments linked to the company’s chief marketing officer.

United States

house gop, prediction markets, stock trading, bryan steil, hr 7008, lawmakers, polymarket, influencers, election markets, public policy