By Raul Castillo
The United States Senate approved this Thursday a new rule that prohibits its members and staff from participating in prediction markets, a decision that seeks to close the door to possible conflicts of interest and reinforce public confidence in the institution.
The measure, promoted by Ohio Republican Senator Bernie Moreno, was adopted unanimously and without a roll call vote. The modification to the internal regulations came into effect immediately.
Moreno defended the resolution from the plenary session by warning that the mere possibility of legislators or employees betting on markets linked to Matters about which they might have privileged information erode the credibility of Congress with citizens.
According to him, The new rule guarantees that no senator can participate in this type of platform while in office, eliminating any doubt about possible use of confidential information.
Pressure to extend the ban to the House
The provision applies only to the Senate, although calls have already emerged to replicate it in the House of Representatives. Republican Congresswoman from Iowa, Ashley Hinson, announced that she will promote a similar initiative in the lower house.
Upon approval, Moreno maintained that the decision establishes a precedent for the rest of Congress and warned that any ethics investigation related to these types of operations could have serious consequences for the career of an elected official.
The Democratic minority leader in the Senate, Chuck Schumer supported the reform and asked the Speaker of the House, Mike Johnson, to adopt an equivalent standard.
“We must never allow Congress to become an online casino.” where members representing the public can bet on wars, economic crises or elections that would destroy the very principle of representative government,” the Democrat declared.
The sector celebrates the measure amid scrutiny
The main platforms in the sector publicly supported the resolution. Polymarket noted that its own rules already prohibit this type of activity, although he considered it positive that this restriction is formalized at the institutional level.
The resolution comes at a time of increasing scrutiny over insider trading on prediction platforms. In recent days, Kalshi sanctioned three candidates for operating in markets related to their own campaigns.
In addition, last week a United States special forces soldier was charged with making a bet linked to Venezuela’s political future after allegedly accessing classified information.
In parallel, The Senate is analyzing another legislative proposal that would restrict platforms such as Kalshi and Polymarket from offering contracts related to sporting events and games of chance.
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