U.S. Rep. Bryan Steil Introduces Prediction‑Market Betting Ban for Lawmakers

Representative Bryan Steil, chair of the House subcommittee on digital assets, introduced legislation called the Stop Lawmakers from Predicting Act. The bill would bar Members of Congress, their spouses and dependent children from placing wagers on prediction‑market contracts tied to specific government policies, actions or political outcomes on platforms such as Kalshi and Polymarket. Violations would incur a penalty of either a $2,000 fee or 10 % of the bet’s value, whichever is greater, and could be referred to the Department of Justice. The proposal does not extend to White House officials. Steil said the measure is intended “to restore the public’s trust…so lawmakers are not profiting off insider information.” If enacted, the law would take effect 180 days after enactment.