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U.S. lawmakers propose the PREDICT Act, aiming to prohibit the president and members of Congress from participating in prediction markets
By: rootdata|2026/03/26 16:42:00
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U.S. lawmakers have introduced the PREDICT Act, which aims to prohibit the President, members of Congress, and other senior government officials from participating in prediction market trading.
The bill was jointly proposed by Adrian Smith and Nikki Budzinski and aims to restrict the use of insider information in prediction activities related to political events or policy outcomes, extending its scope to the spouses and family members of the relevant personnel. The bill also proposes a penalty of 10% of the total contract value for violations, with all profits being forfeited to the U.S. Treasury.
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