A US Congressman has introduced a draft bill that would block his fellow lawmakers from trading in politics-related contracts on prediction market platforms like Kalshi and Polymarket.
The bill, named the Stop Lawmakers From Predicting Act, is the brainchild of Wisconsin Rep. Bryan Stiel, the Chairman of the House Administration Committee. Stiel emphasized that lawmakers should focus on legislating, not on profiting from prediction markets.
If passed, the bill would prevent members of Congress from participating in trading activities on platforms offering contracts related to political events, aiming to eliminate conflicts of interest and maintain ethical standards within the legislative branch.
