What does Preamble of Congressional Prediction Market Ban Act of 2026 do?

This bill proposes to amend chapter 131 of title 5, United States Code. The stated purpose of the bill is to prohibit Members of Congress from certain participation in prediction markets. The bill was introduced in the House of Representatives on May 14, 2026, by Mr. Vindman and referred to the Committee on House Administration.

What does SHORT TITLE. of Congressional Prediction Market Ban Act of 2026 do?

This bill is formally titled the Congressional Prediction Market Ban Act of 2026.

What does PROHIBITION ON MEMBERS OF CONGRESS AND FAMILY MEMBERS FROM of Congressional Prediction Market Ban Act of 2026 do?

This section amends Title 5 of the United States Code by adding Subchapter IV, which prohibits Members of Congress and their household members from participating in prediction markets. A 'covered transaction' is defined as a purchase, sale, or exchange of a prediction market contract. A 'prediction market contract' is defined as an agreement dependent on the occurrence of a specific event, excluding insurance where the insured holds a lawful insurable interest. Members of Congress are prohibited from engaging in, being a party to, or benefiting from covered transactions. If a household member engages in a covered transaction resulting in a payment or benefit, the Member of Congress is considered to have received a benefit. Members of Congress must certify annually to the Clerk of the House or Secretary of the Senate that they have complied with the prohibition. Congressional ethics committees are required to investigate violations of the prohibition and can impose fines of at least $10,000 or triple the profit made from the violation. Fines paid are deposited into the Treasury. Congressional ethics committees are tasked with establishing procedures for certification and reporting, and issuing guidance on compliance.

What does TRANSITION PROVISIONS. of Congressional Prediction Market Ban Act of 2026 do?

This section establishes transition provisions for the Act. The congressional ethics committees must carry out duties under section 13154 of title 5, U.S. Code, within 90 days of the Act's enactment. Members of Congress must comply with section 13152 of title 5, U.S. Code, within 180 days of the Act's enactment. The terms 'Member of Congress' and 'congressional ethics committees' are defined by section 13151 of title 5, U.S. Code.

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Congressional Prediction Market Ban Act of 2026

Last updated: 5/14/2026 · Introduced: 5/14/2026

Author: Eugene Vindman (D-VA)

TL;DR (AI)

This bill prohibits Members of Congress and their immediate family members from participating in prediction markets, including buying or selling contracts.
Members of Congress must annually certify their compliance with this prohibition, and congressional ethics committees will investigate violations with potential fines.
The bill requires congressional ethics committees to establish procedures for certification, reporting, and guidance related to the new prohibition within 90 days of enactment.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

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