{"id":582,"date":"2026-06-18T14:44:30","date_gmt":"2026-06-18T14:44:30","guid":{"rendered":"https:\/\/interstatemovingexpertss.com\/?p=582"},"modified":"2026-06-18T14:44:30","modified_gmt":"2026-06-18T14:44:30","slug":"gop-rep-steil-pushes-bill-curbing-members-of-congress-from-prediction-market-betting","status":"publish","type":"post","link":"https:\/\/interstatemovingexpertss.com\/?p=582","title":{"rendered":"GOP Rep. Steil pushes bill curbing members of Congress from prediction market betting"},"content":{"rendered":"
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A Republican House member on Thursday is set to introduce a provision that would ban congressional lawmakers and their families from placing bets on prediction markets on topics including policy, politics, and elections.<\/p>\n

Read more California\u2019s counting on an IPO tax windfall. Several factors are complicating the equation<\/a><\/p>\n

The provision by Rep. Bryan Steil of Wisconsin is being added to a pending bill that would ban members of Congress from purchasing new shares of individual stocks other than those that are bought with dividends from existing holdings. <\/p>\n

GOP lawmakers have already promised that the bill, which is backed by House Speaker Mike Johnson, R-La., and President Donald Trump, will get a vote on the House floor. <\/p>\n

Steil chairs the committee that oversees the rules governing House lawmakers and their staffers.<\/p>\n

Under Steil’s measure, which his office shared with CNBC, lawmakers who bet on events that they have insider knowledge of would need to pay a fee of $2,000 or 10% of the value of the transaction, whichever is greater, and any gains. <\/p>\n

The provision does allow lawmakers and their families to place bets on events outside the political sphere, such as sports. <\/p>\n

“Some avenues of prediction markets I don’t think create the ethical complications that other areas do,” Steil told CNBC.<\/p>\n

Read more Trump bid to fire Fed\u2019s Lisa Cook cost her more than $1M in legal, security costs: Filing<\/a><\/p>\n

“If an individual or their spouse or dependent child … wants to predict the winner of the Super Bowl, I don’t think that that is a unique ethical challenge in the House,” he said.<\/p>\n

The new proposal limiting the kinds of bets members of Congress can make comes as scrutiny of prediction markets like Kalshi and Polymarket increases.<\/p>\n

The Senate adopted a rule change earlier this year that bars senators and their staffers from making bets on prediction markets.<\/p>\n

The House bill will need Senate passage as well. That is a high bar if it is attached to the larger stock trading ban, which lacks Democratic support because it focuses only on lawmakers and not on Trump.<\/p>\n

Disclosure: CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment.<\/em><\/p>\n

Read more Hollister partners with Target to tap into $89 billion back-to-college shopping market<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The new proposal on limits on members of Congress making such bets come as scrutiny increases on prediction markets like Kalshi and Polymarket.<\/p>\n","protected":false},"author":1,"featured_media":299,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"\nGOP Rep. Steil pushes bill curbing members of Congress from prediction market betting - Interstate Moving Experts<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/interstatemovingexpertss.com\/?p=582\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GOP Rep. 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