Senate Unanimously Bans Members From Trading on Prediction Markets

The United States Senate has passed a resolution prohibiting its members from participating in prediction markets, citing concerns over insider trading and unethical speculation. The ban, effective immediately, targets platforms like Kalshi and Polymarket, where event contracts—including those tied to violence or death—have raised ethical alarms.

Senator Moreno, the resolution's architect, emphasized that taxpayer-funded officials should avoid speculative ventures. Minority Leader Chuck Schumer endorsed the move, urging the House and executive branch to follow suit. The legislation follows a recent incident where a senator profited from insider knowledge on a prediction platform.

Enforcement actions are already underway. Kalshi recently suspended and fined multiple congressional candidates for trading on their own campaigns. The case underscores growing scrutiny over financial misconduct in political circles.