US lawmaker’s bill targets political prediction bets after Maduro wager
The bill came after a Polymarket user netted more than $400,000 on a contract related to the removal of then-Venezuelan President Nicolás Maduro, fueling concerns about insider trading.
A US lawmaker has introduced legislation to restrict politically related prediction market trading by government insiders after a Polymarket user earned more than $400,000 on a contract tied to the removal of Venezuelan President Nicolás Maduro — a bet placed days before US forces captured the longtime leader in a dramatic military operation.
New York Representative Ritchie Torres said the trade highlighted the risk of insider trading and conflicts of interest when elected officials and government staff participate in political prediction markets. In a Friday notice, Torres said he had introduced the Public Integrity in Financial Prediction Markets Act of 2026.
The bill would bar federal officials and congressional staff from trading prediction market contracts linked to government actions or political outcomes when they possess, or could reasonably access, material nonpublic information through their official duties.
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