New York Representative Ritchie Torres formally introduced a legislative proposal on Friday entitled the "Public Integrity Act for Financial Prediction Markets in 2026." The bill, supported by 30 Democrats including former House Speaker Nancy Pelosi, aims to prohibit elected officials, political appointees, executive branch employees, and congressional staff from using material information obtained in their positions to bet on government policies, actions, or political outcomes in prediction markets. This comes after a Polymarket user profited $400,000 by betting that former Venezuelan President Nicolás Maduro would be ousted by the end of the month, raising concerns about insider trading. Torres stated that it is essential to prohibit government insiders from profiting through prediction markets to prevent individuals from having the motivation to push policies for their own benefit. The bill is currently seeking Republican support. (The Blcok)