Congressional Prediction Market Ban Act of 2026

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8838 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 8838

  To amending chapter 131 of title 5, United States Code, to prohibit 
 Members of Congress from certain participation in prediction markets, 
                        and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 14, 2026

 Mr. Vindman introduced the following bill; which was referred to the 
                   Committee on House Administration

_______________________________________________________________________

                                 A BILL

 
  To amending chapter 131 of title 5, United States Code, to prohibit 
 Members of Congress from certain participation in prediction markets, 
                        and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Congressional Prediction Market Ban 
Act of 2026''.

SEC. 2. PROHIBITION ON MEMBERS OF CONGRESS AND FAMILY MEMBERS FROM 
              PARTICIPATION IN PREDICTION MARKETS.

    (a) In General.--Chapter 131 of title 5, United States Code, is 
amended by adding at the end the following:

  ``SUBCHAPTER IV--PROHIBITION ON PARTICIPATION IN PREDICTION MARKETS

``Sec. 13151. Definitions
    ``In this subchapter:
            ``(1) Member of congress and congressional ethics 
        committees.--The terms `Member of Congress' and `congressional 
        ethics committees' have the meanings given the terms in section 
        13101.
            ``(2) Covered transaction.--The term `covered transaction' 
        means a purchase, sale, or exchange of a prediction market 
        contract.
            ``(3) Prediction market contract.--The term `prediction 
        market contract'--
                    ``(A) means an agreement, contract, swap, or 
                transaction that provides for any purchase, sale, 
                payment, or delivery of an excluded commodity, as such 
                term is defined in section 1a of the Commodity Exchange 
                Act (7 U.S.C. 1a), that is dependent on the occurrence, 
                nonoccurrence, or the extent of the occurrence of a 
                specific event or contingency; and
                    ``(B) does not include insurance for which the 
                insured holds a lawful insurable interest.
``Sec. 13152. Prohibition of participation in prediction markets
    ``(a) Prohibition.--
            ``(1) In general.--A Member of Congress may not engage in, 
        be a party to, or benefit from, a covered transaction.
            ``(2) Benefit from a household member.--A Member of 
        Congress receives a benefit from a covered transaction if--
                    ``(A) an individual in the same household as the 
                Member engages in, or is a party to, a covered 
                transaction; and
                    ``(B) the transaction results in a payment paid, or 
                benefit given, to the individual or another individual 
                in the household.
    ``(b) Certification.--
            ``(1) In general.--Not later than 15 days after the start 
        of a calendar year, a Member of Congress--
                    ``(A) who is a Member of the House of 
                Representatives shall certify to the Clerk of the House 
                of Representatives that the Member has complied with 
                subsection (a) with respect to the most recent 
                completed calendar year; and
                    ``(B) who is a Member of the Senate shall certify 
                to the Secretary of the Senate that the Member has 
                complied with subsection (a) with respect to the most 
                recent completed calendar year.
            ``(2) Report.--The Clerk of the House of Representatives 
        and the Secretary of the Senate shall make available on the 
        public website of the Clerk and the Secretary, respectively, 
        any certification made under this subsection.
``Sec. 13153. Penalties
    ``(a) Investigation.--A congressional ethics committee shall 
promptly investigate any Member of Congress subject to the jurisdiction 
of the committee concerned who--
            ``(1) does not comply with section 13152(b) for a calendar 
        year; or
            ``(2) is subject to a credible report of a violation of 
        section 13152(a).
    ``(b) Penalty.--In accordance with the rules of the House of 
Congress concerned, a Member of Congress who is found to have violated 
section 13152(a) shall be fined an amount determined by the House of 
Congress that shall be the greater of--
            ``(1) $10,000; or
            ``(2) the amount equal to triple the profit made by the 
        Member of Congress as a result of the violation.
    ``(c) Deposit in the Treasury.--The amounts paid by a Member of 
Congress for a fine under subsection (b) shall be deposited in the 
miscellaneous receipts of the Treasury.
    ``(d) Additional Measures.--Subject to the rules of the House of 
Congress concerned, a congressional ethics committee may pursue, 
advise, or recommend additional sanctions or remedies with respect to a 
violation of section 13152(a) by a Member of Congress who is subject to 
the jurisdiction of the committee.
``Sec. 13154. Duties of congressional ethics committees
    ``The congressional ethics committees shall carry out the 
following:
            ``(1) Establish procedures with respect to the 
        certification requirements under section 13152(b) and the 
        reporting requirements under section 13152(c).
            ``(2) Issue guidance with respect to compliance with the 
        requirements under this subchapter.
            ``(3) Make available, on a public website under the 
        authority of each congressional ethics committee, the 
        procedures and guidance under this section and other such 
        materials necessary or appropriate to assist Members of 
        Congress in complying with the requirements under this 
        subchapter.''.
    (b) Conforming Amendment.--The table of contents of such chapter is 
amended by adding at the end the following:

   ``subchapter iv--prohibition on participation in prediction markets

``13151. Definitions.
``13152. Prohibition of participation in prediction markets.
``13153. Penalties.
``13154. Duties of congressional ethics committees.''.

SEC. 3. TRANSITION PROVISIONS.

    (a) Procedures and Guidance.--Not later than 90 days after the date 
of the enactment of this Act, the congressional ethics committees shall 
carry out the duties of the committees under paragraphs (1) and (2) of 
section 13154 of title 5, United States Code, as added by this Act.
    (b) Start of Compliance.--Not later than 180 days after the date of 
the enactment of this Act, a Member of Congress shall comply with 
section 13152 of such title, as added by this Act.
    (c) Definitions.--In this section, the terms ``Member of Congress'' 
and ``congressional ethics committees'' have the meanings specified in 
section 13151 of such title, as added by this Act.
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