Legislation Proposed to Restrict Federal Officials from Betting on Prediction Markets

According to PANews, U.S. Representative Ritchie Torres, a Democrat from New York, and former House Speaker Nancy Pelosi have introduced legislation aimed at preventing federal officials from participating in prediction markets. The newly unveiled Financial Prediction Markets Public Integrity Act of 2026 seeks to prohibit federal elected officials, political appointees, executive branch employees, and congressional staff from buying, selling, or exchanging prediction market contracts related to government policies, actions, or political outcomes. This restriction applies if they possess or could reasonably acquire significant non-public information through their official duties.