Senators just banned themselves — and their staff — from trading on prediction markets

• Senators and their staff are now prohibited from trading in prediction markets.

• The change came Thursday in a unanimous addition to Senate rules.

• The resolution also called on the Parliament, executive branch and judicial branch to do the same.

As of Thursday afternoon, senators and their staffs will not be able to trade prediction markets such as: Kalshi or Polymarket.

The Senate passed a resolution changing Senate rules prohibiting members and Senate staff from engaging in prediction market transactions via “voice vote”; This means no senators objected and no formal roll call vote took place.

The resolution was introduced last week by Republican Senator Bernie Moreno of Ohio.

“Serving in Congress is an honor, not a side gig,” Moreno said. wrote to x after the decision is made. “Americans deserve to know that their leaders are here for the right reason!”

The decision also called on the Parliament, executive branch and judiciary to enact similar rules.

Kalshi CEO Tarek Mansour applauded the move, noting that his platform already bans members of Congress from trading.

Polimarket also wrote to x gives “full support” to the decision. Americans are currently prohibited from trading on the company’s main international exchange, but many are already known to use VPNs to do so.

The passage of the resolution comes at a time of widespread public concern about the risk of insider trading in prediction markets.

MPs put forward a proposal various bills Regulating the industry, including banning members of Congress from trading on the platforms.

Some lawmakers in both the House of Representatives and the Senate had also considered this issue. banning own staff A shift from prediction market trading to Senate rules without broader change. A lot governors They also signed executive orders banning government employees from trading in prediction markets.

Last week the Ministry of Justice US Army soldier sued For using classified information about the raid to capture Venezuelan President Nicolás Maduro to conduct a lucrative trade at Polymarket.

HE did not admit his guilt The charges were filed in federal court earlier this week, and a judge agreed to a $250,000 bail package that includes travel restrictions.

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