US Consultant Ritchie Torres is getting ready a brand new invoice to stop authorities officers from utilizing personal info to revenue from prediction markets.
The choice follows considerations over a current commerce that generated giant income linked to studies of Venezuelan President Nicolás Maduro’s seize.
In line with journalist Jake Sherman, who shared particulars on X, Torres will suggest the Public Integrity in Monetary Prediction Markets Act of 2026.
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The laws would stop members of Congress, political appointees, and government department workers from buying and selling on contracts tied to political or coverage outcomes if they’ve entry to confidential info via their work.
Sherman defined that the restriction “applies to purchasing, promoting, or exchanging prediction market contracts tied to authorities coverage, authorities motion, or political outcomes on platforms engaged in interstate commerce”.
The proposal goals to use insider buying and selling requirements, lengthy utilized in monetary markets, to prediction market platforms.
The renewed concentrate on prediction markets adopted a report {that a} new Polymarket account positioned roughly $32,000 on a contract predicting Maduro’s removing from energy by January 31, 2026.
Later, studies surfaced that US forces had captured Maduro, which pushed the contract to settle and earned the dealer over $400,000 in revenue.
Coinbase
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has gone to courtroom in opposition to three US states because it seeks federal backing for its deliberate prediction markets. What did the change say? Learn the complete story.
