House Stock Ban Bill to Target Prediction Markets Like Polymarket and Kalshi

What happened: Rep. Bryan Steil (R-WI), chair of the House Administration Committee, announced plans to add language covering prediction markets such as Polymarket and Kalshi to the pending congressional stock ban bill (H.R. 7008). The bill, which already prohibits lawmakers and their families from trading public equities, would extend restrictions to bets on elections and public policy outcomes. The Senate adopted a similar rule in April, and the House bill is expected to see a vote this summer.

Why it matters: The inclusion of prediction markets in ethics legislation reflects growing concern over potential conflicts of interest and insider trading risks among lawmakers. While the measure is narrowly tailored—excluding non-political bets—it could set a precedent for how regulated prediction markets operate in the US. Industry pushback is expected, especially from platforms like Kalshi, which argue for the legitimacy and transparency of regulated event markets.

Source: Decrypt