Legislation backed by Trump and House leadership targets congressional stock trades and political wagers amid heightened scrutiny.
A new bill introduced in the House would prohibit lawmakers, their spouses, and dependent children from betting on political or election outcomes in prediction markets. The measure also bundles restrictions on congressional stock trading, citing recent disclosures like Rep. Sara Jacobs’ $1 million QCOM sale and Rep. Jefferson Shreve’s $25 million BHF transaction as key triggers.
The legislation gains momentum from Speaker Mike Johnson and former President Donald Trump, increasing its chances of floor consideration. It aims to formalize oversight of U.S.-licensed prediction markets, shifting the sector from a regulatory gray area to explicit federal rules.
Market operators could benefit from clearer guidelines, though the bill’s broader implications for transparency and conflicts of interest remain under debate.