Democratic lawmakers are expected to introduce a bill related to prediction markets this week to prohibit government officials from profiting through insider information.

GateUser-6433627c · 2026-01-05T17:22:15+00:00

On January 6th, reports emerged that insiders profiting from betting on Venezuelan President Maduro's political prospects have attracted attention. New York Democratic Congressman Ritchie Torres plans to introduce the "2026 Financial Prediction Market Public Integrity Act," which would prohibit government officials from using non-public information for market trading.

GateUser-6433627c

2026-01-05 17:22:15

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On January 6, according to Business Insider, an insider previously profited hundreds of thousands of dollars by accurately betting on the political prospects of Venezuelan President Nicolás Maduro, and a congressman is attempting to prevent government officials from engaging in similar activities. A spokesperson for Ritchie Torres, a Democratic member of the New York State Assembly, stated that Torres plans to introduce a bill this week called the “2026 Financial Prediction Market Public Integrity Act.” The bill would prohibit federally elected officials, political appointees, and administrative employees from trading on prediction markets when they possess non-public information related to trading or may obtain such information through their official duties.

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