Federal officials would be barred from betting on political prediction markets
In committeeH.R. 8076Latest action
Sponsor: Nikki Budzinski · Representative · IL
AIDecoded by AI · checked against the recordRead the official text
Official title: PREDICT Act
119th Congress
Topics: Government & democracy
Introduced:
Read the official bill on Congress.govIn plain words
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HR 8076 bans federal officials and their families from trading on prediction markets tied to political events, with fines for violations.
50-second read · 5 questions answered below
What does this do?
HR 8076 would prohibit certain federal government officials from participating in prediction markets, which are online platforms where people bet real money on political events such as election outcomes, congressional votes, or government policy decisions. Violators would be fined 10 percent of the trade's value and required to return any profits made.
Who does it affect?
The ban covers members of Congress and their spouses and dependent children, the president and vice president, senior executive branch employees, political appointees, judges, and other high-ranking officials. Everyday Americans who use prediction markets would not be affected.
Why does it matter?
The concern driving the bill is that covered officials have access to non-public information and could use that inside knowledge to make profitable bets. Existing ethics offices would enforce the rules and would be required to post information about fines on a public website.
What does it cost, and who pays?
- Fine is 10% of trade value
- Profits from violations must be returned
- Fines go to the U.S. Treasury
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Where does it stand?
- IntroducedMar 25, 2026
- House committeeYou are here · Mar 25, 2026
- House vote
- Senate
- The president's desk
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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