This bill prohibits federal officials and employees from trading prediction market contracts (financial bets on future events) using insider information gained from their government positions. The ban applies to the President, Vice President, members of Congress, congressional staff, political appointees, and all Executive and independent agency employees. Anyone who violates this rule faces a fine of up to $500 or double their profits from the illegal trade, whichever is greater. Within 180 days of the bill's enactment, each congressional and agency ethics office must establish procedures, forms, and guidelines to enforce the prohibition and work with the Commodity Futures Trading Commission on implementation. Officials must also report any prediction market transactions valued over $250 to their supervising ethics office within 30 days and file follow-up reports showing final profits or losses once their positions close.
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