ChainCatcher reports that, according to Crypto.news, Representative Ritchie Torres (a New York Democrat) and former House Speaker Nancy Pelosi have spearheaded legislation aimed at preventing federal officials from betting on prediction markets. The newly announced "Public Integrity Act for Financial Prediction Markets, 2026" would prohibit elected federal officials, politically appointed officials, executive branch employees, and congressional staff from buying, selling, or exchanging prediction market contracts related to government policy, government actions, or political outcomes, provided they possess or could reasonably have access to material non-public information through their official duties.
US lawmakers have proposed banning federal officials from using insider information to trade in prediction markets.
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