US Senate bans members and staff from betting on prediction markets

The US Senate unanimously approved a resolution on Thursday barring sitting senators, officers and staff from betting on prediction markets, according to publicgaming.com. Proposed by Senator Bernie Moreno of Ohio, the restriction took effect immediately.

Senate changes its standing rules

The resolution amends the Senate’s standing rules to prohibit members from entering financial transactions that depend on whether a specified event happens. It comes amid growing concerns that political insiders could use confidential information to bet on federal government actions.

Moreno presented the measure as a safeguard against personal profit from public service, arguing that taxpayer-paid congressional work should focus on delivering results rather than speculative activity.

A similar resolution is expected to be introduced in the House next week, publicgaming.com reported. That remains a prospective step, distinct from the Senate’s completed vote and immediate implementation.

Operators back the restriction

Kalshi and Polymarket both supported the Senate’s action. Polymarket said its rulebook and terms of service already prohibit the conduct covered by the restriction and welcomed its formal adoption.

Kalshi chief executive Tarek Mansour applauded the vote on X, saying the platform already proactively blocks members of Congress and takes enforcement action against insider trading. He described a common industry standard as a way to strengthen trust and urged the House to act.

What it means for prediction markets

• The Senate restriction is already in force. It applies to sitting senators, officers and staff, rather than imposing a general ban on prediction-market participation.
• House action is the next development to watch. A similar measure is expected to be introduced next week; the report does not establish that the House has approved it.
• Platform policies and congressional rules are separate safeguards. Both operators say they already restrict relevant conduct, while the Senate measure adds a standing-rules prohibition.
• Confidential government information is central to the debate. The measure responds to concerns about insiders using privileged knowledge to trade on federal actions.