Schumer presses House and White House to adopt Senate prediction market ban
Senate Majority Leader Chuck Schumer called on the House of Representatives and the White House to follow the Senate's lead in banning members, staffers, and government officials from trading on prediction markets. Schumer on Sunday urged coordinated action across Congress and the executive branch, pressing the GOP-led House and President Trump to impose matching prohibitions. The push comes days after the Senate approved its own ban, reflecting escalating federal legislative pressure on the fast-growing sector. Schumer cited national security risks, insider-trading concerns, and ethics issues tied to officials with access to non-public information. He did not detail enforcement mechanisms, specific legislative language, a timeline for House action, or which prediction market platforms would be affected. Support is growing for a House rules change to bar members and staff from prediction market trading.
Forces Kalshi, Polymarket and other platforms to prepare for potential loss of congressional and executive-branch trading volume if House and White House match the Senate ban, while creating compliance precedent that could expand to broader federal employee restrictions.