Lawmakers introduce bill to prohibit members of congress, president from prediction market trading

Lawmakers are introducing bipartisan legislation to prohibit members of Congress, the president and others in the executive branch from trading in certain prediction markets, according to bill text shared exclusively with POLITICO.

Reps. Nikki Budzinski (D-Ill.) and Adrian Smith (R-Neb.) will introduce the Preventing Real-time Exploitation and Deceptive Insider Congressional Trading Act, or PREDICT Act, Tuesday to ban members of Congress from participating in prediction markets related to political events or policy decisions. The ban would also extend to dependents and spouses of lawmakers, senior congressional staff, political appointees…

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