The bill came after a Polymarket user netted more than $400,000 on a contract related to the removal of then-Venezuelan President Nicolás Maduro, fueling concerns about insider trading.
New York Representative Ritchie Torres, with the backing of more than 30 other Democrats in the House of Representatives, has introduced legislation following a Polymarket user netting $400,000 on a bet related to the removal of then-Venezuelan President Nicolás Maduro.
In a Friday notice, Torres said he had introduced the Public Integrity in Financial Prediction Markets Act of 2026.
According to the New York representative, the bill would prohibit “federal elected officials, political appointees, Executive Branch employees, and congressional staff from buying, selling, or exchanging prediction market contracts tied to government policy, government action, or political outcomes when they possess material nonpublic information or could reasonably obtain such information through their official duties.”
