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06/20 04:09

Rep. Bryan Steil introduce bill seeking to block c

#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTXCommunity4thAnniversary Rep. Bryan Steil introduce bill seeking to block congress from prediction market wagersRep. Bryan Steil, the Wisconsin Republican who chairs the House Administration Committee, introduced a bill Thursday that would bar members of Congress, their spouses, and their dependent children from betting on prediction markets tied to government policy, legislation, or political outcomes. Capitol Hill has taken a keen interest in Prediction markets like Kalshi and Polymarket. These platforms have practically exploded over the past year, letting users bet real money on everything from interest rate decisions to who gets indicted next. Rep. Bryan Steil argues that members of Congress should not participate in these prediction markets, as they can use insider information to profit from these platforms. Since members of Congress are briefed on classified information, they often have access to it before it becomes public, and if they use it to bet on public platforms, it is unfair to the public. Steil aims to close this loophole by banning Congress from betting on whether a government action will occur. The bill also seeks to prevent members of the congress on betting on any political outcome they learn about as a result of their job. The bill, however, allows lawmakers to participate in other aspects of prediction markets, including sports betting and any other activities unrelated to their official duties.

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