House Democrat bans staff from betting on prediction markets, citing ethics concerns
'Prediction markets have become a playground for corrupt insiders,' Moulton said in a statement
{{#rendered}} {{/rendered}}Democratic Rep. Seth Moulton of Massachusetts has implemented a policy to ban staffers from betting on prediction markets on issues pertaining to issues such as politics and any information obtained in an official capacity.
"Congressman Seth Moulton (MA-06) today became the first Member of Congress to institute an office-wide policy prohibiting staff from participating in prediction market platforms—such as Polymarket and Kalshi—to trade or hold positions on political, legislative, regulatory, geopolitical outcomes, or any information that is learned in an official capacity," a Wednesday press release asserted.
Prediction markets allow people to wager on what they expect to happen in the future on a vast array of topics, touching upon areas such as sports, business, politics, world affairs, and pop culture.
{{#rendered}} {{/rendered}}DEM LAWMAKER'S ILLEGAL ALIEN SOTU GUEST PART OF RECORDS DISPUTE INVOLVING POLICE REPORTS: REPORT
Rep. Seth Moulton, D-Mass., during the US Chamber of Commerce's Global Aerospace Summit in Washington, D.C., on Wednesday, Sept. 10, 2025. (Al Drago/Bloomberg via Getty Images)
"Prediction markets have become a playground for corrupt insiders who are able to place bets on things like election outcomes, wars, and even the deaths of public figures. This is creating a perverse incentive structure that poses a genuine threat to American society today," Moulton said in a statement.
"Congressional staff and the Members they work for exist to serve the constituents of the districts they represent, not to profit off of the very policy decisions and world events that we are here to respond to. My office has not, and will not, engage in these trades that run counter to every principle of a clean, honest government that works for the people," he continued.
{{#rendered}} {{/rendered}}BLOCKCHAIN ANALYSTS SAY TRADERS MAY HAVE USED INSIDER INFORMATION TO PROFIT ON IRAN CONFLICT BETS
The U.S. Capitol dome is illuminated as the House of Representatives returns to Washington to vote to reopen the governemnt Wednesday, Nov. 12, 2025. (Bill Clark/CQ-Roll Call, Inc via Getty Images)
"I will always hold myself and my team to the highest ethical standards, and I call on every single American elected official to do the same," the lawmaker added.
Moulton has served in the U.S. House of Representatives since early 2015.
{{#rendered}} {{/rendered}}DEM SENATOR, 79, DRAWS PRIMARY CHALLENGE FROM REP SETH MOULTON
Sen. Ed Markey, D-Mass., during a "People's State of the Union" held by Democratic lawmakers on the National Mall in Washington, D.C., on Tuesday, Feb. 24, 2026. (Valerie Plesch/Bloomberg via Getty Images)
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He is challenging incumbent Democratic Sen. Ed Markey in a Democratic U.S. Senate primary.