A bill proposed by U.S. Representative Ritchie Torres – the Public Integrity in Financial Prediction Markets Act of 2026 – targets the use of insider trading on prediction markets and would ban federal elected officials, political appointees, and executive branch employees from using the platforms, according to Punchbowl News Founder Jake Sherman.
The bill has reportedly been in the works for some time, but after an account created in late December sparked online controversy, the urgency of introducing the bill has increased.
The Polymarket account has been a focus of online speculation after it made only four predictions, all of which pertained to the US and its intervention in Venezuela.
