Senators unanimously banned themselves and their staff from prediction markets, a rare bipartisan move exposing fears of insider trading by elected officials amid public distrust of Washington elites.
Story Highlights
- U.S. Senate passed resolution via unanimous voice vote on April 30, 2026, effective immediately.
- Sen. Bernie Moreno (R-Ohio) introduced the measure last week to prohibit trading on platforms like Kalshi and Polymarket.
- Ban covers all 100 senators and their staff, urging House, executive, and judicial branches to follow.
- Action preempts conflicts from lawmakers using nonpublic information on event-outcome bets.
Resolution Passes Without Dissent
Sen. Bernie Moreno (R-Ohio) introduced the resolution last week, targeting prediction markets that let users bet on events like elections and policies. The Senate approved Senate Resolution 708 via unanimous voice vote on Thursday, April 30, 2026. No senator objected, avoiding a formal roll call. The ban took effect immediately, prohibiting members, officers, and employees from any trades on platforms such as Kalshi or Polymarket. This self-imposed rule addresses rising concerns over potential insider advantages.
Prediction Markets Raise Ethical Red Flags
Prediction markets have surged in popularity, offering bets on real-world outcomes with platforms like CFTC-regulated Kalshi and crypto-based Polymarket, often accessed by U.S. users via VPNs. These sites gained fame for accurate 2024 election forecasts but sparked fears lawmakers could exploit nonpublic information. The resolution builds on the 2012 STOCK Act, which banned congressional stock trading on insider info. No prior scandals triggered this, yet it reflects proactive steps amid ethics reform pushes in the 119th Congress.
Bipartisan Push for Broader Accountability
Sen. Alex Padilla (D-CA) amended the resolution to clarify it does not ban insurance products, ensuring smooth passage. The measure explicitly urges the House of Representatives, executive branch, and judicial branch to enact similar restrictions. This bipartisan consensus signals rare unity in a divided government, where President Trump’s second term faces Democratic obstruction. Conservatives applaud the ethics focus, while both sides share frustration with officials prioritizing personal gain over public service.
Public trust in Congress remains low, with many Americans on left and right viewing elites as corrupt. This ban discourages treating public office as a “side hustle,” as Moreno stated. It protects the integrity of policy-making from market influences forecasting Senate actions.
Senate Passes Resolution Banning Senators and Staff From Trading on Prediction Markets — Effective Immediately https://t.co/8LxqBzM72x
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Implications for Government Integrity
Short-term, senators and staff halt all prediction market activity, reducing perceived conflicts. Long-term, it sets precedent for regulating event-based betting and may limit these tools in policy circles. Economic impact on platforms stays negligible, as lawmakers form a tiny user base. Politically, the move bolsters Congress’s ethics image amid approval rating lows. Americans weary of deep state favoritism see this as a win for accountability, though House response remains pending.
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Senators just banned themselves — and their staff — from trading on prediction markets
Senate bans senators from prediction market trading
