The U.S. Senate unanimously passed S. Res. 708, introduced by Republican Senator Bernie Moreno of Ohio, immediately banning senators and their staff from trading on prediction markets where users bet on political outcomes and policy decisions. The resolution targets potential advantages from non-public government information and represents the first major regulatory action specifically prohibiting federal officials from prediction market participation. The move comes amid heightened insider trading concerns, including the arrest last week of 38-year-old U.S. Army soldier Gannon Ken Van Dyke for allegedly using confidential information to place prediction market bets, and recent executive orders in California, New York, and Illinois blocking state employees from similar activity. Prediction market platforms Kalshi and Polymarket expressed support for the ban, noting they already proactively block congressional members, while Minority Leader Chuck Schumer urged Speaker Johnson and President Trump's administration to implement similar rules immediately.
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