Senators Prohibit Betting on Prediction Markets
- Unanimous vote bans senators from prediction market bets
- New rule addresses conflict-of-interest concerns
- Resolution aims to maintain integrity in Congress
In a decisive move, US senators voted unanimously to ban themselves from participating in prediction markets. This decision follows revelations that three congressional candidates had previously engaged in betting on their own campaigns.
The resolution, which modifies the Senate’s conflict-of-interest rules, was passed without the need for House approval. Meanwhile, the House of Representatives is considering a similar measure to apply to its members.
Senator Bernie Moreno (R-Ohio), who spearheaded the resolution, emphasized that “United States Senators have no business engaging in speculative activities while collecting a taxpayer-funded paycheck.” He reiterated that congressional service should focus on outcomes for the American public, not personal profit.