House Oversight

House memo urges limits on officials' prediction market bets

A November 13 memo from House Oversight staff asks Congress to ban or tightly limit officials in all branches from trading on government and political prediction market contracts, even without inside information. The memo cites three CFTC⬟ cases, including a $1.2 million trade on Polymarket◼.com that the CFTC alleges used nonpublic search data. The Senate already barred senators and their staff in April, and the Department of War has barred personnel from using prediction markets for personal gain.