The U.S. Senate on April 30 passed a lightning-fast resolution prohibiting senators and their staff from participating in any prediction market transactions, with the ban taking effect immediately. The 14-line resolution, sponsored by Ohio Republican Senator Bernie Moreno, was passed unanimously — a rare consensus in the chamber.
Directly Targets Polymarket, Kalshi and Others
The resolution amends Section 37 of the Senate's standing rules, barring members from entering into "any agreement, contract, or transaction for the purchase, sale, payment, or delivery based on whether or how much a specific event occurs". The wording directly targets platforms like Polymarket and Kalshi, where users can bet on presidential election outcomes, legislative votes, economic data releases, and even geopolitical conflicts.
"Senators receiving taxpayer money must stay out of speculative activities like prediction markets — that's non-negotiable," Moreno said in a statement. He added that serving in Congress was never meant to be a way to line one's pockets but to deliver tangible results for the American people.
Polymarket Says It "Fully Supports" the Ban
As political prediction markets have gained global traction, multiple cases of candidates being punished for betting on their own races have emerged recently. Polymarket, the largest prediction market platform, promptly posted on X that it "fully supports" the Senate's decision. The company noted that after its 2022 settlement with the Commodity Futures Trading Commission (CFTC), the platform had already technically banned U.S. users, adding that its terms of service "already prohibited such behavior, but having it codified into law is a major step forward for the entire industry."
Current Polymarket odds suggest the market sees roughly a 50% chance that Democrats will retake the Senate majority in the November 2026 midterm elections, essentially neck-and-neck with Republicans.