Bryan Steil, Chairman of the House Administration Committee, stated that the insider trading bill H.R. 7008 should include provisions regarding prediction markets like Polymarket and Kalshi. The updated rules propose a complete ban on the use of such platforms by Congress members, their spouses, and children, and also include fines of $2000 or 10% of the transaction amount with the confiscation of realized profits.
US Proposes Restricting Prediction Markets for Congress Members
