Published on: April 24, 2026, at 07:14h.
Updated on: April 24, 2026, at 07:14h.
- Bernie Moreno proposes a resolution to prohibit senators from engaging in prediction markets
- Resolution seeks to amend current regulations
- Potential for bipartisan backing
The recent initiative from Senator Bernie Moreno (R-OH) aims to prohibit members of the Senate from engaging in prediction markets.
The statement from Moreno’s office suggests that he will introduce a resolution that prohibits sitting Senators from buying and selling event contracts.
“No member of the Senate shall enter into, or propose to enter into, an agreement, contract, or transaction that depends on the occurrence, nonoccurrence, or the degree of occurrence of a specified event,” states Moreno’s resolution.
Moreno revealed his intentions for the resolution a day after President Trump critiqued prediction markets, claiming that “the world has turned into a casino.” This statement surprised some industry and political analysts, particularly since the President’s eldest son, Don Jr., has ties to Kalshi and Polymarket — two leading operators in the prediction market sphere.
Potential Bipartisan Backing for Moreno’s Resolution
Although resolutions typically hold less significance than bills, Moreno’s proposition might attract bipartisan support given that scrutiny of yes/no exchanges is increasing among senators and House members, transcending party lines.
For instance, Senators John Curtis (R-UT) and Adam Schiff (D-CA) recently introduced legislation that could restrict prediction markets from offering sports-related event contracts. Other lawmakers have also suggested measures targeting insider trading of event contracts and advocating penalties for those engaging in misconduct.
This initiative arises as instances of insider trading in prediction markets are becoming more frequent, coinciding with an electorate more aware of allegations regarding some politicians profiting from their market positions.
“Any senator arriving in Washington, D.C. to profit, play the markets, or treat public office as a side gig betrays the constituents they vowed to represent,” said Senator Moreno in a statement. “If you’re here to enrich your own interests rather than champion the American people, that is a blatant misuse of power, and you don’t belong in a public office.”
Future Implications
It remains uncertain how Moreno’s resolution will develop, but he’s clearly advocating for unanimous passage. Additionally, it’s noteworthy that currently, no sitting member of Congress has faced accusations related to insider trading in prediction markets. However, allegations of similar misconduct have surfaced regarding the White House and various government agencies.
Some lawmakers and governors have even taken steps to prohibit their staff from trading on platforms like Kalshi and Polymarket.