Thirty Democrats, including a former House Speaker, support an anti-insider bill targeting prediction platforms.
TL;DR
Thirty Democrats, including Nancy Pelosi, back a bill to ban elected officials from political gambling on prediction markets, spurred by insider trading concerns after a $400,000 profit from a Maduro impeachment bet.
On January 10, The Block reported that 30 Democrats, including former House Speaker Nancy Pelosi, are actively supporting legislation that would prevent elected officials from engaging in politically related gambling in prediction markets, following gambling incidents linked to the arrest of former Venezuelan President Nicolás Maduro.
The bill, titled the "Public Integrity Act for Financial Forecasting Markets of 2026," was formally introduced on Friday by New York State Assemblyman Rich Torres. The bill comes amid growing concerns about insider trading following a Polymarket account betting on Maduro's impeachment at the end of the month and profiting $400,000.