On June 24, 2026, a House committee of House Republicans voted to advance a bill aimed at prohibiting members of Congress and their family members from participating in political prediction markets. This legislation, known as the Stop Lawmakers from Predicting Act, was passed along party lines. The committee's decision was announced via a social media post from the House Administration Committee GOP account, stating that the bill would now move to the House floor for further consideration.
The proposed legislation seeks to restrict not only lawmakers but also their spouses and dependent children from engaging in betting activities related to election outcomes or governmental actions. This follows a unanimous decision by the U.S. Senate in April to ban its members and staff from these markets entirely. In response, Rep. Joe Morelle, a Democrat from New York, expressed concern that the House version of the bill is filled with significant loopholes, stating it resembles "more like a sieve than a bill." Morelle urged the House to emulate the Senate's swift action.
The bill, introduced by Rep. Bryan Steil, a Republican from Wisconsin, includes penalties for violations, prohibiting lawmakers from using certain allowances or donations to cover these penalties. If passed, the act would take effect 180 days after approval by the House. Rep. Steil emphasized the necessity of this legislation, asserting that the American public deserves assurance that their representatives are not profiting from insider information related to legislative decisions.
The developments in this legislative process underscore a growing concern over transparency and ethical conduct among elected officials, with the aim of restoring public trust in the government.
SOURCES: UPI | Facebook Florida Hillbilly
