The US Senate unanimously approved a resolution from Senator Bernie Moreno that bars sitting senators from trading on prediction markets. The measure took effect immediately under the chamber’s internal Standing Rules.
The voice vote came one week after Moreno introduced the resolution on April 24. It targets event contracts offered by platforms such as Polymarket and Kalshi.
Inside the Prediction Market Ban
Moreno said the resolution amends Rule XXXVII of the Senate Standing Rules. It bars senators from entering agreements that depend on the occurrence, nonoccurrence, or scope of a specific event.
That language directly captures event contracts on Polymarket and Kalshi. Users on those platforms wager on elections, legislation, economic data releases, and geopolitical outcomes.
An amendment from Senator Alex Padilla narrowed the text. The change prevents the rule from sweeping in conventional financial products such as insurance policies. Enforcement runs through the Senate Ethics Committee.
Industry Backs the Move
Kalshi chief executive Tarek Mansour applauded the rule. He noted that the platform already blocks members of Congress and polices insider trading internally.
The rule does not extend to House members or congressional staff. Candidates, executive branch officials, and family members of senators are also excluded. That carve-out leaves room for indirect exposure to event contracts.
The resolution arrives during a wave of broader 2026 legislation targeting prediction markets, including bills aimed at all federal officials.
Senate Majority Leader Chuck Schumer publicly praised the measure ahead of the vote. House action would require a separate resolution. That makes the lower chamber’s response the next test of bipartisan appetite.
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Source: https://beincrypto.com/senate-bans-senators-prediction-market-trading/
