House Republican Introduces Bill to Ban Lawmaker Bets on Prediction Markets

On June 19, 2026, U.S. Representative Bryan Steil of Wisconsin introduced the Stop Lawmakers from Predicting Act. This proposed legislation is designed to prohibit members of Congress, along with their spouses and dependent children, from placing bets on prediction markets concerning policy matters, government actions, and election outcomes.

The act emerges amid growing concerns about potential insider trading in Congress. Steil emphasizes that the legislation aims to ensure that the American public can trust that their elected officials are not profiting off information that has yet to be disclosed publicly. "The American people deserve to know their Member of Congress is not profiting off insider information. The Stop Lawmakers from Predicting Act ensures that cannot happen," Steil stated in his announcement.

Violators of this act would face penalties of $2,000 or 10% of the wager's value—whichever is greater—along with any profits from the bet. Lawmakers are not allowed to use taxpayer funds, campaign donations, or official budgets to cover these fines. Moreover, officials who leave office without fulfilling their financial obligations could be referred to the Department of Justice for civil enforcement.

Steil's introduction of this act builds on the Stop Insider Trading Act, which advanced in the committee earlier in January. The legislative push appears to be part of a broader bipartisan effort in Congress to address unease surrounding lawmakers and officials using platforms like Kalshi and Polymarket to place bets on political events. Steil has indicated that he may introduce similar restrictions in a pending bill aimed at banning stock trading by congressional members.