The Stop Lawmakers From Predicting Act would prohibit Members of Congress, their spouses, and their dependent children from trading on prediction markets that depend on government policies, government actions, political outcomes, or other events they learn about through their congressional service. The bill applies to any trades related to these topics, regardless of whether they directly relate to a lawmaker's specific job duties. Violations would result in penalties paid by the responsible Member of Congress, calculated as either $2,000 or ten percent of the transaction value (whichever is greater) plus any net gains realized from the illegal trade. Penalties cannot be paid using official congressional office allowances or campaign funds and must instead come from personal sources, with collected fees deposited in the federal treasury. The restrictions take effect 180 days after the bill becomes law and would be enforced by each chamber's ethics office, which can also refer violations by former members to the Department of Justice.
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