Representative Ritchie Torres (D‑NY) will support the introduction of the Public Integrity in Financial Prediction Markets Act of 2026, which would prohibit elected officials, political appointees and Executive Branch employees from buying, selling or exchanging prediction‑market contracts when they possess material nonpublic information or could obtain it through their duties, Jake Sherman reported.

The legislation targets trades tied to government policy, actions or political outcomes on platforms that conduct interstate commerce, aiming to prevent insider‑trading allegations like the recent reports about a trader making $400,000 profit in less than 24 hours from a Polymarket bet on Venezuela’s forced change in leadership.

Read More: US Representative Ritchie Torres Calls for Investigation of SEC Over Prometheum’s License

• What does the bill prohibit? It bans federal officials from transacting in prediction‑market contracts when they have or could obtain insider information.
• What incident apparently prompted the bill’s introduction? A newly created Polymarket account invested $30,000 in a contract predicting Maduro’s exit, and after the U.S. detained Maduro, the trader earned $400,000 in less than 24 hours
• Where will the restrictions apply? To any prediction‑market platform engaged in interstate commerce within the United States.
• Why is the legislation needed? To prevent insider‑trading abuses that undermine market fairness and public confidence.

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