Senators will now be barred from trading on prediction markets, after adopting a resolution by unanimous consent Thursday afternoon.
It’s the latest in a flurry of efforts to squash insider trading by government officials as prediction markets grow in popularity. Led by Ohio Republican Sen. Bernie Moreno, the resolution adopted Thursday changes the standing rules of the Senate, adding a ban on buying and selling contracts tied to the outcomes of specific events.
“My issue is, let’s clean up Congress. If there are going to be guardrails in prediction markets, that’s a longer conversation that should have hearings,” Moreno said. “But we don’t want to wait until that … we just wanted to clean up Congress.”
