The U.S. Senate voted unanimously on Thursday to adopt a resolution barring its members, officers, and employees from participating in prediction markets that allow betting on political events. The measure, introduced by Senator Bernie Moreno, Republican of Ohio, takes effect immediately and applies only to the Senate; it does not extend to the House of Representatives or the general public.
The resolution comes amid growing scrutiny of platforms such as Polymarket and Kalshi, which let users wager on outcomes including elections, policy decisions, and military actions. According to The New York Times, some users made hundreds of thousands of dollars online by accurately predicting U.S. military actions. The Hill reported that the resolution was introduced after a user on Polymarket earned a large profit by betting on a U.S. airstrike in Yemen.
Senator Moreno stated, "We cannot allow members of Congress to personally profit from the same decisions they make that impact our economy and our national security." Senator Jeff Merkley, Democrat of Oregon, said, "It is absolutely unacceptable for members of Congress to bet on the outcomes of U.S. military actions or any other events that they have the power to influence." Merkley added, "This is a common-sense step to ensure that senators are serving the public interest, not their own financial interests."
The resolution, which is a simple Senate resolution and does not carry the force of law, specifically prohibits senators and Senate employees from using prediction markets to bet on political events. The Commodity Futures Trading Commission regulates such markets, but the Senate’s action addresses internal ethics rather than broader regulation. The House of Representatives has its own ethics rules but no equivalent ban on prediction market trading.
Prediction markets have expanded rapidly, drawing attention from lawmakers concerned about potential conflicts of interest and insider trading. The unanimous vote signals bipartisan agreement that senators should not financially benefit from information or influence tied to their official duties. The ban is now in effect for all Senate members and staff.
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