US House Republican pushes to ban lawmakers from prediction markets

U.S. Representative Bryan Steil, the Republican chairman of the House Committee on House Administration, announced he is pushing to add a provision to a stock trading ban bill that would restrict members of Congress from trading on prediction markets. Steil stated that it is inappropriate for members of Congress to trade on the outcomes of elections or public policy, explaining that he plans to include a clause banning such bets on prediction markets like Kalshi and Polymarket. The move follows the U.S. Senate's adoption of a similar rule in April. Steil clarified, however, that the restriction would be limited to markets related to elections and public policy and would not need to extend to general sports betting, such as predicting the Super Bowl winner.