Senators just banned themselves — and their staff — from trading on prediction markets

As of Thursday afternoon, senators and their staff can’t trade on prediction markets like Kalshi or Polymarket.

The Senate passed a resolution amending Senate rules to forbid members and Senate employees from making prediction market trades via a “voice vote” — meaning no senator objected, and a formal roll call vote was not taken.

The resolution was introduced by Republican Sen. Bernie Moreno of Ohio last week.

“Serving in Congress is an honor, not a side hustle,” Moreno wrote on X after the resolution passed. “Americans deserve to know that their leaders are here for the right reason!”

The resolution also urged the House, the executive branch, and the judiciary to enact similar rules.

Kalshi CEO Tarek Mansour applauded the move, noting that his platform already bans members of Congress from trading.

Polymarket also wrote on X that it’s in “full support” of the resolution. Americans are currently forbidden from trading on the company’s main international exchange, though many are known to use VPNs to do so anyway.

The resolution’s passage comes amid broad public concerns about the risk of insider trading on prediction markets.

Lawmakers have introduced a variety of bills to regulate the industry, including some that also would’ve banned members of Congress from trading on the platforms.

Some lawmakers in both the House and Senate had also contemplated banning their own staff from prediction market trading without a broader change to Senate rules. Several governors have also signed executive orders banning state employees from trading on prediction markets as well.

Last week, the Department of Justice indicted a US Army soldier for using classified information about the raid to capture Venezuelan Leader Nicolás Maduro to make a lucrative trade on Polymarket.

He pleaded not guilty to the charges earlier this week in federal court, and a judge agreed to a $250,000 bail package that included travel restrictions.