Senate Unanimously Bans Senators, Staff From Prediction Markets

The Senate voted unanimously on April 30, 2026, to adopt S. Res. 708, a resolution that prohibits senators and Senate staff from participating in online prediction markets. The measure targets trading on platforms where users bet on elections, legislation, executive actions and other events lawmakers could learn about through official duties.

The resolution was introduced by Republican Sen. Bernie Moreno of Ohio. It bars members of the Senate and their offices from placing wagers or otherwise taking positions on market platforms that offer bets tied to political outcomes and policy decisions.

On the Senate floor, Sen. Bernie Moreno told colleagues, “United States Senators have no business engaging in speculative activities like prediction markets while collecting a taxpayer-funded paycheck, period.” He added, “Serving in Congress is an honor, not a side hustle.”

Senate Minority Leader Chuck Schumer urged the House and the White House to adopt comparable rules, telling colleagues that the House should move quickly to enact similar restrictions.

Several prediction market operators responded to the vote. Kalshi’s founder posted that lawmakers should extend the ban to the House. Polymarket posted that its rulebook already bars the conduct and that making the restriction a formal rule would be helpful.

The Senate action follows a series of incidents that drew scrutiny to prediction markets. A pseudonymous account on a market platform reportedly netted more than $400,000 after betting that Venezuela’s president would be “out” by the end of a month. Separately, an active-duty U.S. Army master sergeant, Gannon Ken Van Dyke, was arrested on charges including using classified intelligence to place winning bets; he pleaded not guilty in federal court, was released on a $250,000 bond and ordered to surrender his passport.

State governments have issued similar limits. Recent executive orders in California, New York and Illinois bar state employees from using non-public government information to place bets on prediction markets.

S. Res. 708 applies only to members of the Senate and their staff. Extending comparable restrictions to members of the House of Representatives or to executive-branch employees would require separate action by the House, the White House or new federal legislation. Industry participants have argued that codifying prohibitions into law would create uniform, enforceable rules across platforms and offices.