Rep. Bryan Steil proposes ban on policy wagers in prediction markets

Wisconsin Representative Bryan Steil, chair of the House subcommittee on digital assets, introduced the Stop Lawmakers from Predicting Act to bar certain public officials from wagering on public policy issues and political outcomes. In a Thursday notice, Steil said the bill would bar "members of Congress, their spouses, and dependent children" from using policy-aligned event contracts on platforms like Kalshi and Polymarket.

The proposal would not ban lawmakers from using prediction markets generally or from placing bets on sporting events, but it would prohibit wagers tied to specific government policies, actions and political outcomes — a category that could include election results.

Violators would face a $2,000 fee or 10% of the value of the prohibited bets, and the law would take effect 180 days after enactment if passed and signed. The draft does not extend to White House officials, including President Donald Trump and Vice President JD Vance.

United States, Wisconsin

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