House bill blocks lawmakers from prediction market betting

A Republican lawmaker has introduced legislation to ban members of Congress and their immediate families from betting on political and policy outcomes through prediction markets. Representative Bryan Steil of Wisconsin, who chairs the House Administration Committee, introduced the Stop Lawmakers from Predicting Act on Thursday, June 18, 2026.

The bill would prohibit lawmakers, their spouses, and dependent children from wagering on the occurrence or extent of specific government actions, policies, or political results. Violators would face a financial penalty of $2,000 or 10% of the transaction's value, whichever is greater, and would be required to forfeit any net gains. The legislation also specifies that fines cannot be paid using official congressional allowances, office expense accounts, or political donations. Members who resign or retire without paying could be referred to the Department of Justice for civil enforcement.

Steil framed the measure as an essential step to close an ethics gap and rebuild public trust. "The American people deserve to know their Member of Congress is not profiting off insider information," Steil said in a statement. "This legislation is critical...