US Consultant Ritchie Torres is making ready a brand new invoice to forestall authorities officers from utilizing non-public info to revenue from prediction markets.
The choice follows considerations over a current commerce that generated massive earnings linked to reviews of Venezuelan President Nicolás Maduro’s seize.
In keeping with journalist Jake Sherman, who shared particulars on X, Torres will suggest the Public Integrity in Monetary Prediction Markets Act of 2026.
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The laws would forestall members of Congress, political appointees, and government department workers from buying and selling on contracts tied to political or coverage outcomes if they’ve entry to confidential info by way of their work.
Sherman defined that the restriction “applies to purchasing, promoting, or exchanging prediction market contracts tied to authorities coverage, authorities motion, or political outcomes on platforms engaged in interstate commerce”.
The proposal goals to use insider buying and selling requirements, lengthy utilized in monetary markets, to prediction market platforms.
The renewed concentrate on prediction markets adopted a report {that a} new Polymarket account positioned roughly $32,000 on a contract predicting Maduro’s removing from energy by January 31, 2026.
Later, reviews surfaced that US forces had captured Maduro, which pushed the contract to settle and earned the dealer over $400,000 in revenue.
Coinbase
$2.29B
has gone to courtroom in opposition to three US states because it seeks federal backing for its deliberate prediction markets. What did the trade say? Learn the total story.
