119th (2025–2027)
H.R. 8838
This bill prohibits Members of Congress and their household members from trading in prediction market contracts, which are agreements that pay off based on whether specific events occur. The ban applies to all members of both the House and Senate, and also covers situations where a congressional member benefits financially from trades made by family members living in the same household. Members must certify annually to their respective chamber that they have complied with the prohibition, with certifications made public on official websites. Members who violate the ban face fines of at least ten thousand dollars or triple any profits gained from illegal trades, whichever is greater, with the money going to the U.S. Treasury. The congressional ethics committees have ninety days after the bill's enactment to establish procedures and guidance for compliance, and Members must fully comply within one hundred eighty days.