Prediction Market Act of 2026
Sen. McCormick and Sen. Gillibrand Introduce Bill to Regulate Prediction Markets and Ban Congressional Trading
The Prediction Market Act of 2026 is currently in the early stages of the legislative process. It was recently introduced in the Senate and sent to the Committee on Agriculture, Nutrition, and Forestry for review. No further actions are scheduled at this time.
Legislative Progress
The bill has support from both parties in the Senate, which helps its chances. However, it creates many new rules that might face pushback from tech companies and financial groups.
Key Points
Impact Analysis
Personal Impact
Life & Work
Senior executive branch officials (those in positions listed under 5 U.S.C. sections 5312-5316) would be banned from trading event contracts entirely. While this affects a relatively small number of high-ranking federal employees, it places a new legal restriction on their personal financial activity that does not currently exist.
“the President, the Vice President, or any officer or employee described in sections 5312 through 5316 of title 5, United States Code, to enter into an event contract”
Activities
Milestones
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Prediction Market Act of 2026
Data Sources
Sponsor
Cosponsors
(1)Analysis generated by AI. Always verify with official sources.