US EditionMoulton Bans Staff From Trading on Prediction Markets
Moulton's ban targets potential conflicts of interest as prediction markets face criticism for enabling insider trading and unregulated gambling, amid multiple legislative efforts.
- On Wednesday, Representatives Adrian Smith and Nikki Budzinski introduced bipartisan legislation banning members of Congress, the president, and executive branch officials from trading on prediction markets.
- Lawmakers cite concerns that prediction platforms allow corrupt insiders to profit from sensitive information, creating what Representative Seth Moulton called a "perverse incentive structure" threatening American society.
- Representative Seth Moulton independently banned his congressional staff from using prediction markets on Wednesday, citing the need to prevent conflicts of interest among all personnel in his office.
- Platforms Kalshi and Polymarket announced new "market integrity rules" this week, implementing guardrails to prevent political candidates and athletes from trading on their own campaigns and leagues.
- Growing legislative efforts include a measure from Representatives Adam Schiff and John Curtis targeting sports prediction contracts, reflecting broader momentum to restrict prediction market activity nationwide.
20 Articles
20 Articles
Moulton bans staff from trading on prediction markets
Rep. Seth Moulton (D-Mass.) is banning his staff from trading on prediction markets, which have recently come under congressional scrutiny. “Effective today, Congressman Moulton is instituting an office-wide policy prohibiting his congressional staff from participating in prediction market platforms, such as Polymarket and Kalshi,” Moulton’s press office said in a post on the social platform...
Democratic Congressman Bans His Staff From Gambling on Prediction Markets
Tom Williams/APDemocratic Rep. Seth Moulton implemented a new policy for his staff on Wednesday, banning employees from gambling on prediction markets, the new online trading platforms that have soared in popularity in recent months.Moulton said in a post to X that the new trading platforms, Kalshi and Polymarket — which allow users to place bets on the outcomes of real events — are “creating a perverse incentive structure that poses a genuine t…
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