Rep. Steil Introduces Stop Lawmakers from Predicting Act on Thursday, Bans Congress Prediction Market Wagers

KALSHI-5.35%
Rep. Bryan Steil (R-Wis.) introduced the Stop Lawmakers from Predicting Act on Thursday, legislation that would bar members of Congress, their spouses, and dependent children from wagering on prediction markets tied to legislation, government actions, or election results. Violators would face penalties of $2,000 or 10% of the wager's value, whichever is greater, plus any profits from the bet. The bill follows bipartisan concerns over lawmakers using platforms such as Kalshi and Polymarket to bet on political events.
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