Senate bans its own members and staff from betting in prediction markets

The Senate has approved a bipartisan resolution to prevent its members and staff from using prediction markets, banning them from making bets on upcoming events. The measure passed unanimously by voice vote and will take effect immediately. Senators Bernie Moreno and Alex Padilla sponsored the resolution, which was broadened to include staff. Senate Minority Leader Chuck Schumer encouraged the House and Trump administration to follow suit. The move comes after a U.S. special forces soldier was charged with using classified information to bet on the capture of Venezuela's then-president, Nicolas Maduro. Prediction markets, including Polymarket and Kalshi, have come under scrutiny as the business has expanded. Sens. Todd Young and Elissa Slotkin have introduced a bill to ban all federally elected officials and government employees from using insider information to make prediction market bets.