The US Senate has unanimously passed a resolution immediately banning its members and staff from using prediction markets. The move, aimed at preventing the use of insider information for gambling, was introduced by Republican Senator Bernie Moreno. The action follows recent charges against a special forces soldier for allegedly using classified information to bet on Polymarket. Senate Democratic leader Chuck Schumer called it a “no-brainer,” while a House representative and prediction market platforms expressed support for the new rule.
The US Senate unanimously approved a resolution on Thursday banning its members and staff from using prediction markets. The rule change took immediate effect to address concerns over insider information.
Republican Senator Bernie Moreno, who introduced the resolution, stated the ban was crucial for maintaining public trust. “Engaging in any way in a prediction market or trying to place bets where we might have inside information deteriorates the confidence that our constituents have in us,” he said on the Senate floor.
The legislative action follows the recent case of a special forces soldier charged with using classified information to place bets on Polymarket. That individual has pleaded not guilty to the allegations.
Senate Democratic leader Chuck Schumer strongly supported the measure on the floor. “We must never allow Congress to turn into a casino where members representing the public can gamble on wars, or economic crises, or elections,” he stated.
Schumer also argued that the rules should extend to the executive branch. He suggested the current administration should apply the same standards due to its “troubling affinity to corruption and self-dealing.”
Republican Representative Ashley Hinson posted to X that she would introduce a similar resolution for the House. The prediction market industry responded positively to the Senate’s decision.
Polymarket posted on X that it fully supports the resolution, noting its terms already prohibit such conduct. Rival platform Kalshi co-founder Tarek Mansour also celebrated the move in a post, stating his company proactively blocks members of Congress.
