Arabic version: أعضاء مجلس الشيوخ يقدمون مشروع قانون لحظر تداول أسواق التنبؤ للمسؤولين

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. The bill aims to prevent public officials from profiting from confidential government information.

According to Al Jazeera, the proposed legislation would impose fines of at least $10,000 for each violation and require violators to repay any profits made from such trades. This move comes as prediction markets have faced scrutiny following reports of misconduct among bettors who profited from insider knowledge about U.S. military actions.

Senator Klobuchar stated that the legislation would enhance the Commodity Futures Trading Commission’s ability to address unethical behavior in the prediction market sector. She emphasized the importance of rules to prevent individuals with access to sensitive information from exploiting their positions for financial gain.

Senator Merkley echoed these sentiments, highlighting the potential damage to public trust when officials leverage non-public information for personal profit. The bill reflects a growing bipartisan concern over the integrity of prediction markets, which allow users to bet on various future events, including political outcomes and economic decisions.

Kalshi and Polymarket are the two main platforms in the prediction market space. Kalshi is the only fully regulated exchange in the U.S., while Polymarket was banned in the U.S. for three years before re-entering the market for sports betting. Both platforms have seen increased political attention, with additional proposals being discussed to enhance regulatory oversight of the industry.