House Administration Chair Bryan Steil is pitching legislation that would bar lawmakers and their family members from wagering on certain Washington-focused prediction markets.
The Wisconsin Republican’s bill, introduced Thursday, proposes to prohibit members of Congress, their spouses and their dependent children from participating in prediction markets that are focused on specific government policy, government action or political outcomes. Violators would need to pay fines of at least $2,000 and the trade’s net gains, according to Steil’s office.
“The American people deserve to know their Member of Congress is not profiting off insider…
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