Thirty Democratic lawmakers, including Pelosi, jointly promote the "Prediction Market Anti-Insider Trading" Bill

On January 10, according to The Block, thirty Democrats, including former House Speaker Nancy Pelosi, are jointly pushing legislation aimed at banning elected officials from making political-related bets in prediction markets. The move comes in response to recent betting incidents related to the arrest of former Venezuelan President Nicolás Maduro. The proposal, called the “2026 Financial Prediction Market Public Integrity Act,” was officially introduced on Friday by New York Democratic Congressman Richie Torres. According to Axios, a user previously placed a bet on the prediction platform Polymarket that Maduro would “step down” by the end of this month and profit $400,000, raising concerns about insider trading and prompting the bill to accelerate. In a statement on Friday, Torres said, “Imagine if members of the Trump administration bet on events like Maduro stepping down. As insiders and participants in prediction markets, such individuals would face the malicious temptation to use policy for personal gain.” He emphasized, “It is essential to completely prohibit insiders within the government from profiting through prediction markets.”