The US Senate voted unanimously to ban all senators and their staffs from betting on political prediction market platforms including Polymarket and Kalshi, with the resolution authored by Republican Senator Bernie Moreno, who also set the CLARITY Act deadline for the end of May.
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- The ban was approved in the Senate unanimously, a notable bipartisan result that reflects shared concern about the merits of inside information after political figures’ trading on the market sparked increased scrutiny in 2025.
- Calci said it was already proactively banning members of Congress from using its platform, and called the Senate vote “a great step to increase confidence in markets,” suggesting the decision formalizes existing industry practices.
- Senator Moreno’s authorship of the ban is important in context: He is the same senator who has publicly warned that the CLARITY Act must be passed by the end of May or delayed until 2030.
The Senate voted unanimously to pass the Senate ban on predictive market trading by senators and staff on May 1. I mentionedthe CFTC was simultaneously embroiled in a legal battle with New York, Illinois, Arizona, and Connecticut over predictive market jurisdiction, making the Senate’s unanimous vote an important political signal that Congress viewed political event trading as very different from the trading prediction market activity that the CFTC had been advocating. everything certain She responded to the decision by saying that it is already preemptively banning members of Congress, adding: “This is a great step to increase confidence in the markets.” Integrated encryption I mentioned The decision prohibits senators and their staffs from betting on political events on platforms like Polymarket and Kalshi, which became an apparent flashpoint after forecast market data showed them moving in ways that correlate with legislative outcomes ahead of their public announcement.
Such as crypto.news Notarizedthe Commodity Futures Trading Commission (CFTC) has been arguing that markets for predicting political events are legitimate financial instruments under its jurisdiction rather than gambling. Such as crypto.news trackingThe decision grew out of a broader political conversation about whether lawmakers with access to non-public information have an unfair advantage over forecasting platforms, a dynamic that undermines the credibility of markets designed to accumulate distributed knowledge.
