Rep. Bryan Steil Proposes Fines for Lawmakers’ Banned Prediction Market Bets

Rep. Bryan Steil introduced a bill that would fine lawmakers close to $2,000 or 10% of a transaction for banned prediction market bets tied to government actions, policies, or political outcomes. According to NS3.AI, the proposal would also apply to lawmakers’ spouses and dependents. Steil said the measure is intended to prevent lawmakers from profiting from insider information.