The Honesty and Trust in Service Act prohibits Department of Defense personnel, including military members and civilian employees, from participating in prediction markets when they have access to nonpublic information that could give them an unfair advantage in those markets. The bill specifically targets situations where DOD employees possess or could reasonably obtain material information through their official duties that wouldn't be available to the general public. The Secretary of Defense must issue regulations within 180 days of the law's enactment that define the rules and establish a range of penalties for violations. This legislation aims to prevent insider trading in prediction markets and protect the integrity of these platforms by ensuring DOD personnel cannot exploit their access to classified or sensitive government information.
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