Rep. Bryan Steil (R-WI) has introduced a bill designed to ban lawmakers from betting on policy matters, political events, or election outcomes within the realm of prediction markets.
The proposed legislation specifically targets platforms such as Kalshi and Polymarket. Under the terms of Rep. Steil's measure, members of Congress would be prohibited from engaging in wagering activities related to government actions or electoral results on these digital exchanges.
According to Seeking Alpha reporting on the development, this initiative represents a direct effort by Republican leadership within the House to regulate financial conduct among elected officials regarding their legislative duties and political environment.