Senate Unanimously Bans Members From Betting On Prediction Markets

The case underscored the risks associated with prediction markets and insider knowledge.

The activity prompted concerns that individuals with advanced knowledge of diplomatic developments could profit before information became public.

Minority Leader Chuck Schumer called the resolution a “no-brainer” and urged the House and the Trump administration to adopt similar restrictions. “We must never allow Congress to turn into a casino where members representing the public can gamble on wars or economic crises or elections,” Schumer said.