Wisconsin Representative Bryan Steil has introduced a bill aimed at restricting certain public officials from placing bets on political and policy-related events. Named the Stop Lawmakers from Predicting Act, the legislation targets “members of Congress, their spouses, and dependent children,” prohibiting them from engaging in wagers on platforms like Kalshi and Polymarket.
The proposed law does not specifically prevent members of Congress from participating in sports betting but aims to ban wagers on government policies and political outcomes, including election results. Violations could lead to penalties of $2,000 or 10% of the value of the bets made. If enacted, the law could take effect within 180 days after being signed by the president.
This initiative follows growing concerns about lawmakers potentially leveraging insider information for profit, particularly after a soldier reportedly earned over $400,000 betting on political events. Notably, the bill does not mention restrictions for White House officials, including President Donald Trump and Vice President JD Vance.