Senators and Staff Banned From Trading on Prediction Markets

Senators are now prohibited from trading on prediction markets after a resolution was agreed to Thursday by unanimous consent.

Sen. Bernie Moreno (R-Ohio) sought unanimous consent to approve his resolution (S.Res.708) with an amendment from Sen. Alex Padilla (D-Calif.). Moreno said the measure changed the standing rules of the Senate to block senators and staff from engaging in prediction markets going forward.

Its passage is the latest example of lawmakers seeking to place restrictions on use of their positions for financial gain, and comes as the proliferation of prediction markets has escalated attention around regulating who can place bets after ...