New Bill Seeks to Limit Congressional Trading in Prediction Markets

WHO:

Cointelegraph - A Republican lawmaker proposed the bill.

ReadWrite - The bill was introduced by Representative Steil.

WHAT:

Cointelegraph - The bill prohibits policy wagers on prediction markets by members of Congress.

ReadWrite - The proposed legislation would block members of Congress and their immediate families from participating in certain prediction market trades.

WHERE:

Cointelegraph - The context of the bill pertains to the United States Congress.

WHY:

Cointelegraph - The bill aims to address concerns regarding insider trading in prediction markets.

HOW:

Cointelegraph - The bill does not specifically bar members of Congress from using prediction markets or making sports bets.

(UPDATED June 19, 2026 21:22 UTC)

A Republican lawmaker has introduced a bill aimed at prohibiting members of Congress and their immediate families from participating in certain prediction market trades. This legislation seeks to address concerns about insider trading in prediction markets, although it does not specifically bar Congress members from using prediction markets or making sports bets. The proposed bill was put forth by Representative Steil and is set within the context of the United States Congress.