Amending the Rules of the House of Representatives to prohibit Members, officers, and employees of the House of Representatives from participating in prediction markets in certain cases, and for other purposes.
Prediction Markets: Ban on House Member Participation
This bill is currently in the early stages of the legislative process and has been sent to three different House committees for review. No further actions or votes have been scheduled at this time. It is considered active but is not currently moving forward.
Part of: story →Legislative Progress
Most resolutions that change internal House rules require strong support from party leaders to move forward, and this bill currently lacks broad cosponsorship.
Key Points
- This proposal would stop members of Congress and their employees from betting on the outcome of future events through prediction markets. These markets allow people to trade on things like election results or whether a law will pass.
- The goal is to prevent people in government from using their inside knowledge to make money. By banning these trades, the rule aims to make sure officials are focused on their jobs rather than their personal profits.
- The ban does not include regular insurance policies or legal sports betting. Members of the House would still be allowed to gamble on sports where it is already legal.
- The resolution also asks the executive branch and the courts to set up similar rules. This would ensure that people working for the administration or federal judges are held to the same standards.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the Committee on Ethics, and in addition to the Committees on the Judiciary, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Submitted in House
Votes
No votes have been recorded for this legislation yet.
News
Senate bans members and staff from betting in prediction markets
Senators ban themselves from gambling on prediction markets
US Senate bans its members, staff from betting in prediction markets
US Senate Bans Members, Staff From Trading on Prediction Markets
Senate bans members and staff from trading on prediction markets
Source Information
Document Type
Congressional Bill
Official Title
Amending the Rules of the House of Representatives to prohibit Members, officers, and employees of the House of Representatives from participating in prediction markets in certain cases, and for other purposes.
Data Sources
Sponsor
Analysis generated by AI. Always verify with official sources.