U.S. Congressman Ritchie Torres will introduce a bill to prohibit federal officials from using insider information to trade in prediction markets

According to Theblock, U.S. Congressman Ritchie Torres will introduce the "2026 Predictive Market Financial Integrity Act," which prohibits federal officials from trading in predictive markets using insider information. This move stems from a newly created Polymarket account that bet approximately $32,000 on Venezuelan President Maduro's ousting before he was captured by U.S. military forces, ultimately profiting over $400,000.

The bill will prohibit federally elected officials, political appointees, and executive branch employees from trading predictive market contracts related to government policy or political outcomes when they possess or may obtain significant non-public information through their official duties.