Republican Lawmaker Plans to Add Prediction Markets to Congressional Stock Ban Bill
Rep. Bryan Steil said he will add prediction markets like Polymarket and Kalshi to a House stock-ban bill.
Intelligence analysis by GPT-5.4 Mini
The House stock-ban bill is being widened beyond equities. Steil says the same restrictions should also cover prediction markets such as Polymarket and Kalshi, as Washington steps up scrutiny of those platforms.
A U.S. lawmaker wants a rule meant to stop politicians from trading stocks to also cover prediction markets, where people bet on things like elections. It is like saying the same school rule should apply to both cards and marbles, not just one game.
Analysis
What Steil said
Rep. Bryan Steil, who leads the House Administration Committee, told reporters that lawmakers plan to add language to the House congressional stock ban bill so it also covers prediction markets such as Polymarket and Kalshi. The bill is aimed at stopping insider-style trading by lawmakers and their families.
What the bill already does
As written, H.R. 7008 would bar lawmakers, spouses, and dependents from buying publicly traded stocks. It would also require public "intent to sell" notices at least seven days before sales, and violators would face fines of $2,000 or 10% of the investment’s value, whichever is greater, plus forfeiture of realized gains.
The current version does not explicitly cover digital assets. The bill cleared committee in February, was placed on the House calendar, and is waiting for floor action. Steil said he hopes the House could vote this summer.
Why prediction markets are in the crosshairs
The article says the push comes amid broader concern in Washington about prediction markets. House Oversight Chair James Comer recently launched investigations into Polymarket and Kalshi, citing what he described as a growing pattern of insider trading activity on prediction market platforms. The Senate also passed a resolution in April banning members from the platforms, and White House aides were reportedly told in March not to place wagers on prediction markets.
The central political argument in the story is simple: if lawmakers should not trade stocks based on privileged information, they should also not bet on elections or public policy outcomes. Steil framed it that way when speaking about the bill.
Key points
- Rep. Bryan Steil said prediction markets like Polymarket and Kalshi should be covered by the House stock-ban bill.
- H.R. 7008 already bans lawmakers, spouses, and dependents from buying new stocks and sets financial penalties for violations.
- The article says the bill does not explicitly cover digital assets in its current version.
- House Oversight has opened investigations into Polymarket and Kalshi, and the Senate passed a resolution banning members from the platforms in April.
- Steil said he hopes the House could vote on the bill this summer.
If the amendment moves forward, it could make the ethics rules clearer by treating prediction markets and stock trades under the same broader concern: lawmakers using inside knowledge. That may reduce confusion about what officials can and cannot do.
The change could make the bill more controversial and slow its progress in the House. It also adds more uncertainty for prediction markets already facing Senate action and House investigations.
