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U.S. Lawmakers Introduce PREDICT Act to Restrict Prediction Market Trading

U.S. Lawmakers Introduce PREDICT Act to Restrict Prediction Market Trading

According to Cointelegraph, Representatives Adrian Smith and Nikki Budzinski introduced the PREDICT Act to bar senior U.S. officials from participating in prediction markets, expanding ethics-related restrictions on event-based trading.

Fact Check
The statement is directly supported by an official press release from the office of Congressman Adrian Smith (adriansmith.house.gov) and corroborated by major news outlets like Politico and Cointelegraph. The bill, titled the 'Preventing Real-time Exploitation and Deceptive Insider Congressional Trading Act' (PREDICT Act), was introduced on March 25, 2026, by Representatives Adrian Smith and Nikki Budzinski.
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Summary

According to Cointelegraph, U.S. lawmakers introduced the PREDICT Act on Tuesday to prohibit members of Congress, the president, and other senior officials from participating in prediction markets. The bill was introduced by Representatives Adrian Smith and Nikki Budzinski. Existing topic details indicate the proposed restrictions would also extend to spouses and family members, with penalties including a fine equal to 10% of total contract value and forfeiture of profits to the U.S. Treasury.

Terms & Concepts
  • Prediction market: A marketplace where participants trade contracts based on the outcomes of future events, with prices often reflecting perceived probabilities.
  • PREDICT Act: A proposed U.S. bill that would bar the president, members of Congress, and other senior officials from participating in prediction markets.
  • Contract value: The total notional value of a position or agreement, which can be used to calculate financial exposure or penalties.