Congress·Passed Senate·S.Res. 708

A resolution amending rule XXXVII of the Standing Rules of the Senate to prohibit Senators from trading on prediction markets.

Senate Ban on Prediction Market Trading

Apr 30·View on Congress.gov·Read full text

Next up: The House

The Senate has officially passed this resolution to stop senators from trading on prediction markets. Because it is a Senate resolution, it does not need to go to the House or the President to take effect. The bill is now complete and no further action is required.

Legislative Progress

✓ Senate

House

President

Law

Very likely to pass

The Senate has already voted to approve this resolution, which immediately changes the internal rules for all Senators and their staff.

Key Points

This policy changes the official rules of the Senate to stop Senators and their employees from using prediction markets. These are platforms where people bet money on the outcome of future events like elections or new laws.
The ban covers any financial deal that pays out based on whether a specific event happens. This is designed to prevent people in power from using secret information to win bets on things they help control.
The new rule includes an exception for regular insurance. Senators can still have insurance policies for their homes or health because those are not considered event-based bets under this rule.
The Senate also formally recommended that the House of Representatives and other branches of government pass similar bans. This is meant to ensure that all federal officials follow the same ethical standards.

Impact Analysis

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

Milestones

6 actions

Apr 30, 2026Senate

Resolution agreed to in Senate with amendments by Unanimous Consent.

Apr 30, 2026

Passed/agreed to in Senate: Resolution agreed to in Senate with amendments by Unanimous Consent.

The Senate voted to approve this bill. If the House already passed it, it goes to the President.

Apr 30, 2026Senate

Measure laid before Senate by unanimous consent.

Apr 30, 2026Senate

Submitted in the Senate.

Apr 30, 2026

Submitted in Senate

No votes, news coverage, or related bills recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

A resolution amending rule XXXVII of the Standing Rules of the Senate to prohibit Senators from trading on prediction markets.

Bill NumberSRES 708

Congress119th Congress

ChamberSenate

Latest ActionResolution agreed to in Senate with amendments by Unanimous Consent.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Analysis generated by AI. Always verify with official sources.