Lawmakers Push Ban on Political Prediction Market Bets

Published by

Sohrab Khawas

March 26, 2026

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U.S. Representatives Adrian Smith and Nikki Budzinski have introduced the PREDICT Act, a bipartisan bill to prohibit the president, vice president, members of Congress, political appointees, and their spouses and dependents from participating in prediction markets tied to political events, policy decisions, or government actions. The legislation would impose a 10% fine on the value of any contract and require the forfeiture of all profits earned in violation of the ban. The proposal aims to prevent conflicts of interest and maintain trust in government decision-making.

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Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Published by

Sohrab Khawas

Tags: Crypto news