To amend chapter 131 of title 5, United States Code, to prohibit covered individuals from trading on prediction markets, and for other purposes

Progress

Timeline

• Mar 25Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Summary

**What it does:** This bill would ban certain government officials and employees from trading on prediction markets - online platforms where people bet money on the outcomes of future events like elections, policy decisions, or economic indicators. **Who it affects:** "Covered individuals" in the federal government, which typically includes high-level officials, members of Congress, and employees with access to sensitive information that could give them unfair advantages in predicting outcomes. **What would change:** Government insiders would no longer be allowed to place bets or trades on prediction markets. This aims to prevent conflicts of interest where officials might profit from advance knowledge of government decisions or use their positions to influence outcomes they've bet on. **Current status:** The bill is still in committee, so it's not yet law. Congress is still reviewing and potentially modifying the proposal. The goal is to maintain public trust by preventing government officials from potentially profiting from their insider knowledge.

How This Affects You