Pittsburgh, Pennsylvania – March 11, 2026 − Senator Lindsey M. Williams (D-Allegheny) announced today that she will do so introduce a resolution calling on Congress to prohibit federal public officials from trading stocks and betting on forecast markets.
“For people to trust their elected officials, they need to know that we all play by the same rules,” said Senator Williams. “But while insider trading is illegal in the rest of the country, there is no enforceable prohibition on Congress and other top officials using their insider knowledge to make money.”
So-called “prediction markets” such as Polymarket and Kalshi allow you to place bets on the timing and details of world events. New user accounts have been placing huge bets in recent months the overthrow of Venezuelan President Nicholás Maduro and on schedule of air attacks in Iran. These types of bets have raised suspicions that government officials are using confidential knowledge of war plans to bet on people’s lives.
Banning members of Congress from trading stocks is an extremely popular bipartisan policy that: 2025 study which shows that over 86% of voters support such a ban. AND studies in 2023 showed similar results. Although several bills have been introduced at the federal level to ban the practice, none have been enacted.
“People deserve to know that their elected officials make decisions based on what is best for their constituents, not what is best for their personal outcomes,” said Senator Williams. “By encouraging Congress to take appropriate action and enact an enforceable ban on insider trading and betting in the forecast market, we can begin to restore some of the trust that has been eroded in our government officials.”
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