Four U.S. senators have introduced legislation aimed at prohibiting federal officials from engaging in trading prediction market contracts based on material nonpublic information. According to NS3.AI, the proposed bill includes a minimum fine of $500 for any violations. The legislation targets a range of officials, including the president, vice president, members of Congress, staffers, political appointees, and agency employees, whether they trade on U.S. or foreign platforms. Additionally, any trades exceeding $250 would require reporting within 30 days. A companion bill in the House seeks to extend these restrictions to include the spouses and dependents of the officials.