Republican Lawmaker to Add Prediction Markets to Congressional Stock Ban Bill
Rep. Bryan Steil said he plans to add language to the House congressional stock ban bill that would also cover prediction markets such as Polymarket and Kalshi. The move would broaden the scope of the proposed restrictions beyond traditional stock trading by lawmakers.
Rep. Bryan Steil said he plans to add language to the House congressional stock ban bill to include prediction markets, broadening the proposal beyond conventional stock holdings and trades by lawmakers.
The Wisconsin Republican said the changes would apply to platforms such as Polymarket and Kalshi, both of which let users trade on the outcomes of events. His comments indicate that the legislation could move beyond securities concerns and address this newer category of market activity as well.
The congressional stock ban effort has focused on limiting lawmakers’ ability to trade or hold individual stocks while in office. By adding prediction markets to the bill, Steil would extend the discussion to products that operate differently from traditional equities but still allow participants to bet on future events.
No further details were provided on the exact wording or timing of the proposed amendment.