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Committee chair presents H.R. 9367 to bar members from using prediction markets
Summary
The chair introduced H.R. 9367, which would prohibit members of Congress, spouses and dependent children from using prediction markets to wager on public policy and political outcomes; penalties include the greater of $2,000 or 10% of the transaction and potential DOJ referral for unpaid fines.
The chair told the committee that H.R. 9367, the Stop Lawmakers From Predicting Act, would ban members of Congress from using prediction markets to wager on public policy, government action or political outcomes. "No member of Congress should use public office for personal financial gain," the chair said.
The bill extends the prohibition to members' spouses and dependent children and prescribes penalties for violations: the greater of $2,000 or 10% of the transaction, and any gains realized. The chair added that members who leave office before paying a fine could be referred to the United States Department of Justice for enforcement, "if that is deemed necessary."
The chair described the measure as a next step building on earlier committee work to prevent insider trading and to "restore the public's trust." The transcript records the bill's policy outline and penalty structure but does not include testimony from members, debate, or a committee vote.
