Ritchie Torres (D-NY) and Nancy Pelosi (D-CA) introduced bipartisan legislation to prohibit federal elected officials, senior executive branch members, and their immediate families from participating in prediction markets — explicitly targeting platforms like Polymarket amid concerns over potential insider trading and conflicts of interest on policy-sensitive events.
The “Prediction Market Integrity Act” would amend existing ethics rules to classify prediction market positions as financial interests requiring disclosure and outright bans for covered officials on markets involving U.S. elections, legislation, regulatory outcomes, or geopolitical events. Proponents argue recent high-profile bets — including massive volumes on election results, impeachment odds, and international conflicts — create unacceptable risks when officials could theoretically influence or access non-public information affecting market resolutions.
Torres stated: “Prediction markets have value for crowd wisdom, but not when public servants can profit from information asymmetry or policy decisions. This is about restoring trust.” Pelosi echoed the sentiment, adding: “No one in power should be gambling on outcomes they can shape.” The bill has already garnered co-sponsors from both parties, with a companion Senate version expected soon.
Polymarket volume dipped briefly on the news but quickly recovered, with traders shifting to non-U.S. restricted markets. Platform representatives called the proposal “overbroad,” arguing existing self-exclusion tools and geoblocking already limit official access, while advocates insist stronger statutory barriers are needed.
The push comes as prediction markets hit record $15 billion+ annualized volume in 2025, increasingly rivaling traditional polling and media for real-time event forecasting.
The story exploded across crypto and political feeds starting January 10, with bill text screenshots, conflict-of-interest examples, Polymarket resolution charts, and “free markets vs. ethics” debates flooding timelines. Traders, policy watchers, and free-speech advocates are fiercely divided.
#Crypto (6.8M posts in 24h) dominates global discussions with massive volume.
#Polymarket (3.2M posts) trending worldwide on proposed official trading ban.
#PredictionMarkets (2.4M posts) surges in regulatory risk talks.
#CryptoNews (3.7M posts) buzzing with Torres-Pelosi bill updates.
#Bitcoin (7.6M posts) remains a top trend with huge activity.
#Blockchain (3.0M posts) thrives in ethics and insider trading debates.
#DeFi (3.9M posts) continues strong in platform access conversations.
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What’s your take — does the Torres-Pelosi push to bar officials from prediction markets protect against corruption and insider abuse, or is it unnecessary overreach that stifles legitimate crowd-wisdom tools? Drop your thoughts below 👇