Ex-House Speaker Nancy Pelosi, other Democrats back bill to ban elected officials from political prediction market bets
Thirty Democrats, including Nancy Pelosi, support a bill banning elected officials from betting on political outcomes in prediction markets.Summary
Thirty Democrats, including former House Speaker Nancy Pelosi, are supporting the "Public Integrity in Financial Prediction Markets Act of 2026," introduced by Rep. Ritchie Torres (D-N.Y.). The legislation aims to prohibit federal elected officials, political appointees, executive branch employees, and congressional staff from betting on prediction markets concerning government policy or political outcomes if they possess material, non-public information related to their roles. This push follows controversy over a $400,000 payout on Polymarket related to the capture of former Venezuelan President Nicolás Maduro, raising insider trading concerns. Torres argued that allowing insiders to profit from market predictions creates a perverse incentive to manipulate policy for personal gain. Other notable cosponsors include Reps. Sean Casten, Brad Sherman, and Rashida Tlaib, and Torres's team indicated they are open to Republican support.
(Source：The Block)