House holds off on prediction market ban despite bipartisan calls for prohibition

Politics House holds off on prediction market ban despite bipartisan calls for prohibition May 19, 20265:00 AM ET Luke Garrett FILE - The prediction market app Kalshi is displayed on a mobile phone, April 16, 2026, in Chicago. (AP Photo/Erin Hooley, File) Erin Hooley/AP/AP hide caption toggle caption Erin Hooley/AP/AP Unlike Senate members and staff, House lawmakers and staff can still bet on prediction markets — where billions are bet each week on sports, culture, policy and elections. But a growing number of House lawmakers are calling for a rule change to bar the lower chamber from using prediction markets as reports of insider trading mount. The push is in part a response to concerns that key decision makers and their staff can use insider information from their careers in government to bet in prediction markets and profit. In April, prosecutors charged a U.S. soldier with using classified information to bet and win more than $400,000 on the removal of Venezuelan leader Nicolás Maduro. In May, NPR reported that a political campaign staffer made "thousands" by betting on their own candidate using unreleased polling data. Sponsor Message "The status quo is indefensible," Rep. Ritchie Torres, D-N.Y., told NPR. "There's no justification for allowing members of a campaign or members of the government to bet on their own decision making." Last week, Torres introduced a bill banning campaign staffers from the betting on their own candidates using insider information. He also signed a bipartisan letter calling on House leadership to "end abuse in the use of prediction markets in our chamber immediately" by changing its rules. Torres said he hasn't heard "anyone" argue against a House prediction market ban. The only thing keeping the lower chamber from changing its rules is what he called political "inertia." As it stands, House members and staff can still bet on prediction markets. Moreover, House ethics rules make no mention of prediction market bets — known as event c...