The Senate passed the measure by unanimous voice vote Thursday, establishing an immediate ban on prediction market betting by senators and congressional staff. The resolution came as a formal change to Senate rules, making it effective without further procedural steps. The action follows heightened scrutiny of prediction markets after a U.S. special forces soldier was charged with using classified information to place bets on the January capture of Venezuela's then-president, Nicolas Maduro.
Sen. Bernie Moreno, the Ohio Republican who sponsored the resolution, framed the prohibition in stark terms. "United States senators have no business engaging in speculative activities like prediction markets while collecting a taxpayer-funded paycheck, period," Moreno said. An amendment by Sen. Alex Padilla, a California Democrat, expanded the scope to include Senate staff members beyond lawmakers themselves.
Senate Minority Leader Chuck Schumer called the move a "no-brainer" and urged the House and Trump administration to adopt similar measures. "We must never allow Congress to turn into a casino where members representing the public can gamble on wars or economic crises or elections," Schumer said, emphasizing the threat to representative democracy.
Sens. Todd Young of Indiana and Elissa Slotkin of Michigan have separately introduced legislation targeting a broader population. Their bill would ban all federally elected officials and government employees from using insider information to make prediction market bets. Young characterized the Senate resolution as "a good first step" and called for the chamber to take up the broader legislation.
The Senate action reflects growing unease about prediction market platforms, particularly Polymarket and Kalshi, which have expanded significantly in recent years. Polymarket has faced particular criticism as a venue for offshore trades beyond the reach of U.S. regulators. In early April, the Associated Press reported that a group of new accounts on Polymarket placed highly specific, well-timed bets on whether the United States and Iran would reach a ceasefire on April 7, generating hundreds of thousands of dollars in profits for the new customers.
The White House issued a warning to staff on the same day the AP published its investigation, cautioning against using private information to trade on prediction markets. The administration has simultaneously served as a key ally to the prediction market industry in legal disputes with states seeking to ban the platforms. Donald Trump Jr., the president's eldest son, serves as an adviser for both Polymarket and Kalshi, while Truth Social, the president's social media platform, is launching its own cryptocurrency-based prediction market called Truth Predict.
