The US Senate has unanimously passed a resolution that immediately bars all senators and their staff from participating in prediction market betting. The measure was introduced by Ohio Republican Senator Bernie Moreno, and its scope was expanded after California Democratic Senator Alex Padilla added an amendment to include staff members.
Ban targets contracts tied to event outcomes
The resolution applies to any contract that pays, trades, or settles based on whether a specific event happens and on the extent of that outcome. The wording indicates that the restriction is not limited to one platform or one product category, but reaches across prediction market activity that fits that definition.
Moreno said on the Senate floor that members of Congress should not collect taxpayer-funded salaries while speculating in prediction markets. The immediate trigger was the recent prosecution of a US Army Special Forces soldier who allegedly placed bets on the Iran conflict after obtaining classified intelligence. The Senate moved quickly to avoid a similar trust issue reaching Capitol Hill.
Polymarket says it supports the move
Polymarket backed the resolution, saying its own platform rules already prohibit such conduct and that putting the restriction into law is a step forward for the industry. On the same day, the company also announced a partnership with Chainalysis to deploy onchain monitoring tools, pointing to a tighter compliance posture.
The resolution only applies to the Senate for now. The House has no matching rule in place, leaving the restriction limited to only one chamber of Congress at this stage.