{"id":14046,"date":"2026-03-05T22:18:56","date_gmt":"2026-03-05T22:18:56","guid":{"rendered":"https:\/\/inernews.online\/?p=14046"},"modified":"2026-03-05T22:18:56","modified_gmt":"2026-03-05T22:18:56","slug":"senators-propose-ban-on-us-govt-officials-doing-prediction-market-trading-politics-news","status":"publish","type":"post","link":"https:\/\/inernews.online\/?p=14046","title":{"rendered":"Senators propose ban on US gov\u2019t officials doing prediction market trading | Politics News"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<p class=\"article__subhead\"><em>The bill comes as an anonymous user on Polymarket made more than $500,000 by taking a position that the United States would strike Iran hours before it happened.<\/em><\/p>\n<\/div>\n<div><button class=\"article-listen-container\" aria-labelledby=\"listen-text listen-duration\" data-testid=\"listen-to-article-button\"><\/p>\n<p><span class=\"article-listen-container__text\" data-testid=\"listen-to-article-text\">Listen to this article<\/span><span aria-hidden=\"true\">\u00a0|\u00a0<\/span><span class=\"article-listen-container__duration\">4 mins<\/span><\/p>\n<p><\/button><button tabindex=\"0\" class=\"tooltip-accessible_trigger\"><svg class=\"icon icon--info icon--main-grey-dark icon--16 listen-to-article-tooltip__icon\" viewbox=\"0 0 24 24\" version=\"1.1\" aria-hidden=\"true\" role=\"presentation\"><title>info<\/title><path class=\"icon-main-color\" d=\"M12 0a12 12 0 1 0 0 24 12 12 0 0 0 0-24Zm-.226 3.225a2.039 2.039 0 0 1 2.155 1.924v.193a1.998 1.998 0 0 1-2.155 2.149 2.029 2.029 0 0 1-2.146-2.15 2.039 2.039 0 0 1 1.955-2.122h.193l-.002.006Zm3.227 15.525a.75.75 0 0 1-.752.75H9.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.75h.748V12h-.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.751h3a.75.75 0 0 1 .75.752v6.75h.75a.75.75 0 0 1 .75.749L15 18.75Z\"\/><\/svg><\/button><\/div>\n<div>\n<div class=\"byline byline--single-avatar\">\n<div class=\"avatars-container\">\n<div class=\"responsive-image\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.aljazeera.com\/wp-content\/uploads\/2025\/09\/Screen-Shot-2022-01-07-at-6_58_15-PM-copy-1757343018.jpg?resize=96%2C96&amp;quality=80\" srcset=\"\/wp-content\/uploads\/2025\/09\/Screen-Shot-2022-01-07-at-6_58_15-PM-copy-1757343018.jpg?resize=96%2C96&amp;quality=80 96w\" sizes=\"(max-width: 96px) 96px, 96px\" aria-hidden=\"true\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"article-dates\">\n<p><span class=\"screen-reader-text\">Published On 5 Mar 2026<\/span><span aria-hidden=\"true\">5 Mar 2026<\/span><\/p>\n<\/div>\n<div class=\"rich-share\" data-testid=\"rich-share\">\n<div class=\"rich-share__wrapper\">\n<div class=\"rich-share__button-wrapper\"><button class=\"rich-share__button row\" aria-expanded=\"false\"><\/p>\n<p>Click here to share on social media<\/p>\n<p><svg class=\"icon icon--share2 icon--primary icon--16 \" viewbox=\"0 0 20 16\" version=\"1.1\" aria-hidden=\"true\"><title>share2<\/title><path fill=\"#000\" fill-rule=\"evenodd\" d=\"M11.688 9.048c-.659 0-1.252.282-1.673.733l-4.92-2.45c.016-.115.028-.232.028-.352 0-.117-.011-.23-.027-.343l4.913-2.423a2.285 2.285 0 0 0 1.68.739C12.964 4.952 14 3.899 14 2.6 14 1.302 12.965.25 11.688.25S9.377 1.302 9.377 2.601c0 .117.01.23.027.343L4.49 5.367a2.285 2.285 0 0 0-1.68-.739C1.536 4.628.5 5.681.5 6.979c0 1.299 1.035 2.35 2.312 2.35.659 0 1.252-.281 1.673-.731l4.92 2.45a2.357 2.357 0 0 0-.029.351c0 1.299 1.035 2.351 2.312 2.351S14 12.698 14 11.399s-1.035-2.35-2.312-2.35Z\" clip-rule=\"evenodd\"\/><\/svg><\/button><\/p>\n<p class=\"rich-share__social-text\">Share<\/p>\n<\/div>\n<\/div>\n<div class=\"google-preferred-source\"><button class=\"google-preferred-source__button\" aria-label=\"Add Al Jazeera on Google\" data-testid=\"google-preferred-source-button\"><svg class=\"icon icon--plus2 icon--primary icon--12 google-preferred-source__add-icon\" viewbox=\"0 0 24 24\" version=\"1.1\" aria-hidden=\"true\"><title>plus2<\/title><path fill=\"currentColor\" d=\"M10.571 13.429H3.43c-.405 0-.744-.137-1.018-.411A1.382 1.382 0 0 1 2 12c0-.405.137-.744.41-1.018.275-.274.614-.41 1.019-.41h7.142V3.428c0-.405.137-.744.411-1.018C11.256 2.137 11.595 2 12 2s.744.137 1.018.41c.274.275.41.614.41 1.019v7.142h7.143c.405 0 .744.137 1.018.411.274.274.411.613.411 1.018s-.137.744-.41 1.018c-.274.274-.614.41-1.019.41H13.43v7.143c0 .405-.137.744-.411 1.018-.274.274-.613.411-1.018.411s-.744-.137-1.018-.41a1.382 1.382 0 0 1-.41-1.019V13.43Z\"\/><\/svg><svg class=\"icon icon--google icon--primary icon--16 google-preferred-source__google-icon\" viewbox=\"0 0 17 16\" version=\"1.1\" aria-hidden=\"true\"><title>google<\/title><g fill-rule=\"evenodd\" clip-path=\"url(#a)\" clip-rule=\"evenodd\"><path fill=\"#4285F4\" d=\"M16.18 8.181c0-.567-.051-1.112-.145-1.636H8.5v3.094h4.305a3.68 3.68 0 0 1-1.596 2.415v2.007h2.585c1.513-1.393 2.386-3.443 2.386-5.88Z\"\/><path fill=\"#34A853\" d=\"M8.5 16c2.16 0 3.971-.717 5.295-1.939l-2.586-2.007c-.716.48-1.633.764-2.709.764-2.083 0-3.847-1.407-4.476-3.298H1.35v2.072A7.997 7.997 0 0 0 8.501 16Z\"\/><path fill=\"#FBBC05\" d=\"M4.024 9.519c-.16-.48-.251-.993-.251-1.52s.09-1.04.25-1.52V4.406H1.352A7.997 7.997 0 0 0 .5 8c0 1.29.31 2.513.85 3.593l2.674-2.073Z\"\/><path fill=\"#EA4335\" d=\"M8.5 3.182c1.175 0 2.23.403 3.058 1.196l2.295-2.294C12.467.793 10.656 0 8.5 0a7.997 7.997 0 0 0-7.149 4.407L4.024 6.48C4.653 4.59 6.417 3.182 8.5 3.182Z\"\/><\/g><defs><clippath id=\"a\"><path fill=\"#fff\" d=\"M.5 0h16v16H.5z\"\/><\/clippath><\/defs><\/svg><span class=\"google-preferred-source__text\">Add Al Jazeera on Google<\/span><\/button><button tabindex=\"0\" aria-label=\"See more of Al Jazeera\u2019s trusted journalism by adding us as a preferred source on Google.\" class=\"tooltip-accessible_trigger\"><svg class=\"icon icon--info icon--primary icon--16 google-preferred-source__info-icon\" viewbox=\"0 0 24 24\" version=\"1.1\" aria-hidden=\"true\"><title>info<\/title><path class=\"icon-main-color\" d=\"M12 0a12 12 0 1 0 0 24 12 12 0 0 0 0-24Zm-.226 3.225a2.039 2.039 0 0 1 2.155 1.924v.193a1.998 1.998 0 0 1-2.155 2.149 2.029 2.029 0 0 1-2.146-2.15 2.039 2.039 0 0 1 1.955-2.122h.193l-.002.006Zm3.227 15.525a.75.75 0 0 1-.752.75H9.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.75h.748V12h-.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.751h3a.75.75 0 0 1 .75.752v6.75h.75a.75.75 0 0 1 .75.749L15 18.75Z\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<div aria-live=\"polite\" aria-atomic=\"true\">\n<p>Two United States Democratic Senators are set to introduce legislation barring members of Congress, the president, and vice president from trading event contracts on prediction market platforms like Kalshi and Polymarket.<\/p>\n<p>Senators Jeff Merkley, a Democrat from Oregon, and Amy Klobuchar, a Democrat from Minnesota, are set to introduce on Thursday a bill banning lawmakers from trading, according to CNBC, which first reported the story.<\/p>\n<section class=\"more-on\">\n<h2 class=\"more-on__heading\">Recommended Stories<!-- --> <\/h2>\n<p><span class=\"screen-reader-text\">list of 4 items<\/span><span class=\"screen-reader-text\">end of list<\/span><\/section>\n<p>The legislation, if passed, would also curtail other members of the executive branch from profiting on the platforms, or face fines of at least $10,000 for each violation.<\/p>\n<p>The bill also states that violators will have to pay back profits made in trades.<\/p>\n<p>The legislation comes as prediction markets are in the spotlight after a few anonymous bettors profited on positions that the US would strike Iran. The bets were made on Polymarket, a platform on which traders can buy and sell anonymously, within 24 hours of the strike.<\/p>\n<p>Only weeks earlier, another user made more than $400,000 on Polymarket betting on the removal of Venezuelan President Nicolas Maduro from office, only hours before the US\u2019s abduction of Maduro.<\/p>\n<p>\u201cAt the same time that prediction markets have seen huge growth, we have seen increasing reports of misconduct. This legislation strengthens the Commodity Futures Trading Commission\u2019s ability to go after bad actors and provides rules of the road to prevent those with confidential government or policy information from exploiting their access for financial gain,\u201d Klobuchar said in a statement shared with Al Jazeera.<\/p>\n<p>Prediction markets allow users to make wagers on future events ranging from election outcomes and monetary policy decisions to sports games and military strikes.<\/p>\n<p>\u201cWhen public officials use non-public information to win a bet, you have the perfect recipe to undermine the public\u2019s belief that government officials are working for the public good, not for their own personal profits,\u201d Senator Merkley said in a statement shared with Al Jazeera.<\/p>\n<p>The two major players in the prediction markets are Kalshi and Polymarket.<\/p>\n<p>Kalshi is the only fully regulated exchange in the US. Polymarket, on the other hand, was banned in the US for three years in 2022. It entered the US market for traders late last year, but is so far only cleared for sports betting. Americans can view other positions but are unable to wager. While US users are banned, a CoinDesk investigation found that Americans have been using the platform through VPNs.<\/p>\n<p>\u201cWe support Congress and regulators taking action to police insider trading, and keep prediction markets onshore and under federal regulation. In the past few months, we\u2019ve had outreach from policymakers from both sides of the aisle about work they\u2019re doing to ensure market integrity, and we\u2019re in talks with many of them, including Senator Merkley,\u201d a spokesperson for Kalshi told Al Jazeera in a statement.<\/p>\n<p>Polymarket did not respond to Al Jazeera\u2019s request for comment.<\/p>\n<p>The legislation comes amid a wave of new political pressure on the sector. Democratic Senator Chris Murphy of Connecticut is also working on legislation to curb the industry, including barring trades made on government actions.<\/p>\n<p>At the same time, a new conservative coalition, led by former White House Office of Management and Budget director Mick Mulvaney, wants the industry to be regulated more akin to sports betting.<\/p>\n<\/div>\n<p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bill comes as an anonymous user on Polymarket made more than $500,000 by taking a position that the United States would strike Iran hours before it happened. Listen to this article\u00a0|\u00a04 mins info Published On 5 Mar 20265 Mar 2026 Click here to share on social media share2 Share plus2googleAdd Al Jazeera on Googleinfo [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-canada-news"],"_links":{"self":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts\/14046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14046"}],"version-history":[{"count":0,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts\/14046\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/media\/14047"}],"wp:attachment":[{"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}