The U.S. Senate approved a bipartisan resolution Thursday that bars senators and their staff from placing bets in prediction markets, the chamber said. The measure passed unanimously by voice vote and was written as a change to Senate rules, so it takes effect immediately.
Sen. Bernie Moreno, R-Ohio, who sponsored the resolution, said, “United States senators have no business engaging in speculative activities like prediction markets while collecting a taxpayer-funded paycheck, period.” An amendment by Sen. Alex Padilla, D-Calif., broadened the ban to include Senate staff, the Senate said.
Senate Minority Leader Chuck Schumer, D-N.Y., called the move a “no-brainer” and urged the House and the administration to adopt similar policies. He said Congress must not become “a casino where members representing the public can gamble on wars or economic crises or elections,” the Senate said.
The action comes a week after a U.S. special forces soldier was charged with using classified information to bet on the reported capture of Venezuela’s then-president, Nicolas Maduro, and amid growing concern about public wagers related to the war with Iran, The Associated Press reported. Sens. Todd Young, R-Ind., and Elissa Slotkin, D-Mich., have introduced legislation to bar all federally elected officials and government employees from using insider information to place prediction market bets; Young called the Senate resolution “a good first step,” the senators said.
Prediction market platforms such as Polymarket and Kalshi have faced increasing scrutiny as the business expands. The AP reported that new accounts made timely bets on whether the United States and Iran would reach a cease-fire on April 7, producing large profits for those accounts. The White House warned staff against using private information to trade on prediction markets the same day the AP published its report. Donald Trump Jr. is an adviser to Polymarket and Kalshi, and Truth Social is planning a cryptocurrency-based prediction market called Truth Predict, The Associated Press reported. Former president Donald Trump said this month, “The whole world, unfortunately, has become somewhat of a casino,” according to a transcript of his remarks published by news outlets.
Jon Ross Myers is the executive editor and publisher of the Mississippi News Network, Mississippi's largest digital only media company. He can be reached at editor@tippahnews.com
