US House advances legislation to bar lawmakers from political prediction markets

The House Administration Committee voted 5-4 to advance the Stop Lawmakers From Predicting Act, a bill that would prohibit members of Congress, their spouses and dependent children from participating in political prediction markets such as those run by Kalshi and Polymarket. Violations would trigger fines of $2,000 or 10% of the transaction value, whichever is greater, and require surrender of any profits, with penalties barred from being paid with taxpayer‑funded accounts.

Democratic members of the committee argued the measure does not go far enough, urging a broader ban comparable to the Senate’s rule adopted earlier this year that bars all senators, staff and officers from any prediction market activity. The push for restrictions follows concerns that lawmakers could exploit non‑public information, highlighted by reports of timed trades linked to military actions and other geopolitical events.