Democratic Party Proposes Bill to Ban Public Officials from Trading on Prediction Markets, Supported by Former Speaker Pelosi

On September 9, thirty Democratic Party members, including former Speaker Nancy Pelosi, were reported to support a bill that prohibits elected public officials from engaging in political betting on prediction markets. The '2026 Financial Prediction Markets Public Integrity Act,' introduced by Representative Ritchie Torres, was prompted by recent bets related to the arrest of former Venezuelan President Nicolas Maduro.

According to Axios, concerns over insider information have intensified after an account on Polymarket bet that Mr. Maduro would 'step down' by the end of this month, earning a profit of $400,000. Mr. Maduro was arrested by the US military last week. The prosecutor's indictment...