Rep. Seth Moulton Prohibits Staff from Trading on Prediction Markets Amid Increased Scrutiny

Rep. Seth Moulton has implemented a ban on all staff in his office from engaging in trading on prediction markets. According to NS3.AI, this decision aligns with the proposed PREDICT Act, which suggests a 10% civil penalty for violations by covered officials. The policy, effective from Wednesday, prohibits staff from trading or holding positions related to political, legislative, regulatory, or geopolitical outcomes, including any information acquired in an official capacity. This action follows heightened scrutiny by lawmakers on platforms like Polymarket and Kalshi due to concerns over insider trading.