The U.S. Senate unanimously passed a ban on "all Senators" from betting on prediction markets, including staff members.

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The U.S. Senate unanimously passed a resolution introduced by Ohio Republican Senator Bernie Moreno, immediately banning all Senators and their staff from participating in prediction market betting. An amendment by California Democratic Senator Alex Padilla expanded the scope to include staff members. Polymarket expressed support, stating that "codifying this into law is a step forward for the industry." (Background: Prediction market ETFs could launch as early as next week: Six Roundhill funds effective 5/5, allowing U.S. election bets to be included in retirement accounts.) On April 30, the U.S. Senate unanimously passed a resolution immediately banning all Senators and their staff from participating in prediction market betting. The resolution, introduced by Ohio Republican Senator Bernie Moreno, covers any contract that "makes a payout, trades, or settles based on whether a specific event occurs and the degree of the outcome." California Democratic Senator Alex Padilla introduced an amendment to expand the scope from lawmakers to staff. Moreno stated bluntly on the Senate floor: "Members of Congress should not be speculating in prediction markets while collecting a taxpayer-funded salary." The direct trigger was the indictment of a U.S. Special Forces soldier last week for placing bets on the war in Iran after obtaining classified intelligence; the Senate clearly does not want a similar crisis of confidence to spread to Capitol Hill. Polymarket expressed support for the move, noting that its platform rules already prohibited such behavior and that "codifying this into law is a step forward for the industry." On the same day, the platform also announced a partnership with Chainalysis to deploy on-chain monitoring solutions. However, this resolution only binds the Senate; the House of Representatives currently has no corresponding regulations, effectively closing only half the door.

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Published:2026-05-01 00:33:38

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