Rep. Ritchie Torres formally introduced the Public Integrity in Financial Prediction Markets Act of 2026

Torres introduces prediction-market integrity bill

Rep. Ritchie Torres has formally introduced the Public Integrity in Financial Prediction Markets Act of 2026, according to gamblerss.com. The proposal places federal officials’ involvement in financial prediction markets under legislative scrutiny.

The bill has support from more than 30 House Democrats, including former Speaker Nancy Pelosi, according to the outlet. That establishes backing within the House Democratic caucus, but the supplied material does not identify Republican supporters.

The available summary describes a proposed prohibition covering federal elected officials and political appointees. It also begins to identify an executive-branch category, but cuts off before specifying its scope or the precise conduct the bill would prohibit.

The report was published on Oct 12, 2026, at 11:24 PM ET. The full source text was unavailable, leaving the proposal’s detailed restrictions, enforcement provisions and legislative timetable unverified from the supplied material.

What it means for prediction markets

• Introduction is not enactment. The reported development is the formal introduction of a bill, not a change in the rules governing market participants.
• Support is identifiable but incomplete. More than 30 House Democrats, including Pelosi, back the proposal; the available information does not establish its prospects for passage.
• The statutory language matters. Readers assessing potential effects on prediction markets will need the bill’s full text to determine which officials, activities and contracts would fall within its restrictions.