U.S. lawmakers introduce the PREDICT Act, proposing to ban the president and members of Congress from participating in prediction markets.

SmartContractAuditor · 2026-03-26T05:46:43+00:00

U.S. lawmakers introduce the "PREDICT Act," aiming to prohibit the president and senior officials from participating in prediction market trading to prevent insider information from influencing political events. The bill also includes penalties of a 10% fine and confiscation of proceeds for violators.

SmartContractAuditor

2026-03-26 05:46:43

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Odaily Planet Daily reports that 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, jointly proposed by Adrian Smith and Nikki Budzinski, seeks to restrict the use of insider information in predicting political events or policy outcomes, extending its scope to include spouses and family members of involved individuals. The bill also proposes fines of 10% of the total contract value for violations, with all proceeds confiscated and turned over to the U.S. Treasury. (Cointelegraph)

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