Rep. Bryan Steil Proposes Including Prediction Markets in Congressional Stock Ban Bill

On June 4, 2026, Rep. Bryan Steil (R-WI) announced his intention to modify the House congressional stock ban bill, specifically H.R. 7008, to incorporate prediction markets like Polymarket and Kalshi. The bill currently prohibits lawmakers and their immediate families from buying new stocks and imposes fines for non-compliance.

This proposal follows increasing federal scrutiny on prediction markets, including prior Senate discussions on legislating against member wagering and House Oversight Committee investigations. During a recent roundtable, Steil remarked, "In my conversations with members and just the broad public, I don’t think anyone believes that members of Congress should be making trades on elections or making trades on public policy."

The proposed amendment reflects concerns that allowing lawmakers to engage in prediction markets could compromise market integrity and national security. Observers often reference instances like a U.S. soldier’s alleged trading activities based on military affairs in Venezuela as justification for these regulations.

The bill not only bans stock purchases but also mandates that lawmakers, spouses, and dependents publicly disclose an "intent to sell" at least seven days prior to executing any sale. Penalties include fees of $2,000 or 10% of the investment’s value, whichever is more, while also requiring the forfeiture of any gains realized from unauthorized trades.

The legislation has yet to make significant progress since its passage through committee in February but remains poised for potential debate and voting in the House this summer. Steil expressed optimism about moving the bill forward, aiming to ensure legislative activities align with broader public expectations for transparency and accountability in government operations.