US House proposes bill to bar lawmakers from betting on prediction markets

Rep. Bryan Steil (R-WI), chairman of the House Administration Committee, introduced the Stop Lawmakers from Predicting Act. The legislation would prohibit members of Congress, their spouses and dependent children from placing wagers on political or public‑policy outcomes in prediction markets such as Kalshi and Polymarket. Violations would incur a civil penalty of at least $2,000 or 10 % of the trade’s value, whichever is greater, and require forfeiture of any net profit; unpaid fines could be referred to the Justice Department.

The bill enjoys backing from House Speaker Mike Johnson and President Donald Trump and echoes a similar Senate resolution that barred senators and staff from such betting. It builds on Steil’s earlier Stop Insider Trading Act and follows recent House Oversight investigations into Kalshi and Polymarket for alleged insider‑trading practices. Government watchdogs have called for the ban to be expanded to employees of all three federal branches, but the current proposal is limited to elected officials and their immediate families.