Rep. Torres to target insider trading on prediction markets after bet on Maduro
A $400,000 Polymarket wager tied to Maduro’s capture has prompted Ritchie Torres to propose legislation restricting insider trading on political prediction markets.
US Representative Ritchie Torres is preparing to introduce legislation aimed at curbing insider trading on prediction markets, following scrutiny around a highly profitable wager tied to the sudden capture of Venezuelan President Nicolás Maduro.
In a Sunday post on X, Punchbowl News founder Jake Sherman said Torres plans to introduce the Public Integrity in Financial Prediction Markets Act of 2026. The bill would prohibit federal elected officials, political appointees and executive branch employees from trading prediction market contracts linked to government policy or political outcomes when they have nonpublic information through their official duties.
“The restriction applies to buying, selling, or exchanging prediction market contracts tied to government policy, government action, or political outcomes on platforms engaged in interstate commerce,” Sherman said, citing a source familiar with the matter.
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