US Consultant Ritchie Torres is making ready a brand new invoice to stop authorities officers from utilizing personal data to revenue from prediction markets.
The choice follows considerations over a current commerce that generated massive earnings linked to studies of Venezuelan President Nicolás Maduro’s seize.
Based on journalist Jake Sherman, who shared particulars on X, Torres will suggest the Public Integrity in Monetary Prediction Markets Act of 2026.
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The laws would forestall members of Congress, political appointees, and govt department workers from buying and selling on contracts tied to political or coverage outcomes if they’ve entry to confidential data by way of their work.
Sherman defined that the restriction “applies to purchasing, promoting, or exchanging prediction market contracts tied to authorities coverage, authorities motion, or political outcomes on platforms engaged in interstate commerce”.
The proposal goals to use insider buying and selling requirements, lengthy utilized in monetary markets, to prediction market platforms.
The renewed deal with prediction markets adopted a report {that a} new Polymarket account positioned roughly $32,000 on a contract predicting Maduro’s elimination from energy by January 31, 2026.
Later, studies surfaced that US forces had captured Maduro, which pushed the contract to settle and earned the dealer over $400,000 in revenue.
Coinbase
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has gone to court docket towards three US states because it seeks federal backing for its deliberate prediction markets. What did the trade say? Learn the complete story.
