Congressional Prediction Market Ban Act of 2026

Key Points

• This bill stops members of the House and Senate from using prediction markets. These are platforms where people bet money on whether certain events will happen, such as who will win an election or if a new law will pass.
• The ban also applies to anyone living in a lawmaker's home. This is meant to stop members of Congress from using private information to help their family members win bets and make money.
• Lawmakers would be required to sign a document every year proving they followed the rules. These records would be posted on public websites so that anyone can check them.
• If a lawmaker is caught breaking the law, they would have to pay a large fine. The penalty would be at least $10,000 or three times the amount of money they made from the bet, whichever is higher.
• The goal of this policy is to prevent a type of insider trading. It addresses concerns that people in government might use what they know about upcoming decisions to make unfair profits on betting sites.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.