US Senate Passes Resolution Banning Senators From Prediction Market Trading
The US Senate unanimously approved a resolution from Senator Bernie Moreno that bars sitting senators from trading on prediction markets. The measure took effect immediately under the chambers internal Standing Rules. The voice vote came one week after Moreno introduced the resolution on April 24. It targets event contracts offered by platforms such as Polymarket and Kalshi. Inside the Prediction Market Ban Moreno said the resolution amends Rule XXXVII of the Senate Standing Rules. It bars senators from entering agreements that depend on the occurrence, nonoccurrence, or scope of a specific event. Proud to say my bill to ban members of Congress from insider trading on prediction markets just passed the Senate UNANIMOUSLY! That language directly captures event contracts on Polymarket and Kalshi. Users on those platforms wager on elections, legislation, economic data releases, and geopolitical outcomes. An amendment from Senator Alex Padilla narrowed the text. The change prevents the rule from sweeping in conventional financial products such as insurance policies. Enforcement runs through the Senate Ethics Committee. Industry Backs the Move Kalshi chief executive Tarek Mansour applauded the rule. He noted that the platform already blocks members of Congress and polices insider trading internally. “I applaud the Senate for passing this resolution to ban Senators and their offices