Pittsburgh, Pennsylvania – May 1, 2026 − Senator Lindsey M. Williams (D-Allegheny) applauds the U.S. Senate’s efforts to do so prohibit its members, employees and officers of the house from placing bets on prediction markets. Senator Williams introduced it last month Pennsylvania Senate Resolution 276which calls on Congress to prohibit insider trading and participation in prediction markets for the Congress, the President, the Vice President, and the President’s Cabinet.
“The U.S. Senate’s action to self-regulate the use of prediction markets is an important first step. More action is needed to fully restore public confidence that elected officials are not using their positions to profit from insider information,” said Senator Williams. “I call on Congress to pass legislation prohibiting all branches of government and imposing enforcement mechanisms that punish public officials for violating the law. People deserve assurance that their government serves its people, not toying with taxpayer-funded intelligence.”
Senator Williams’ resolution comes in response to ongoing public protests and calls on government officials to prohibit the apply of insider information to place bets on so-called “prediction markets” such as Polymarket and Kalshi, which allow anonymous betting on the timing and details of world events. Last week, a US Special Forces soldier who took part in the military operation to remove Venezuelan President Nicholás Maduro was accused of using classified information win over $400,000 in a bet related to Maduro’s overthrow.
The U.S. Senate ban was adopted unanimously on April 30, 2026, as an amendment to the U.S. Senate’s operating rules and takes effect immediately. This measure was sponsored by Senator Bernie Moreno (R-Ohio).
Senators John Curtis (Utah), Elissa Slotkin (D-Michigan), and Todd Young (R-Indiana) are sponsoring legislation which would extend this prediction market ban to all government officials and employees. Violators will be fined twice the amount of profit made by betting through the prediction market.
“Forecast markets are a national security issue,” said Senator Williams. “I thank the United States Senate for taking the first step toward regulation, and I urge Congress to pass legislation that will lead to true accountability, transparency and taxpayer safety.”
###
The post Sen. Lindsey M. Williams Applauds U.S. Senate’s Move to Ban Insider Trading in Prediction Markets appeared first on Senate Democrats in Pennsylvania.
