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May 1, 2026

U.S. Senate Unanimously Votes to Ban Senators and Staff From Trading on Prediction Markets

The Senate passed S. Res. 708 unanimously, immediately prohibiting senators and their staff from using prediction markets platforms amid insider trading concerns.

May 1, 2026·3 sources
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Top claims

  • ▪Senators Elizabeth Warren and Ron Wyden sent letters to Howard Lutnick and Tether CEO Paulo Ardoino asking about a loan Tether reportedly made to Lutnick's family
  • ▪Chuck Schumer urged Speaker Johnson to immediately implement a prediction market trading ban in the House
  • ▪Foresight Ventures became a majority investor of The Block as of November 2023

Subtopics

Crypto regulation1Insider trading1Prediction markets1US Senate1

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