Senators and Senate workers cannot place prediction-market trades tied to future events. The rule also covers offers to make those trades. Regular insurance is still allowed when the person has a legal reason to insure against the risk.
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A resolution amending rule XXXVII of the Standing Rules of the Senate to prohibit Senators from trading on prediction markets. is a Senate bill passed by the Senate. The latest recorded action: Resolution agreed to in Senate with amendments by Unanimous Consent.
Latest action on S.Res. 708: Resolution agreed to in Senate with amendments by Unanimous Consent.
Who this affects: This resolution mainly affects people who work in the U.S. Senate. It changes what financial bets they can make while serving in or working for the Senate. It may also matter to other federal officials if their branches later adopt similar rules.
Why this matters: This matters because Senate officials can learn about or shape events before the public does. The rule draws a clearer line between public service and personal bets on future events. It could help public trust by limiting a way officials might appear to profit from their jobs. The effect outside the Senate is uncertain because the resolution only recommends similar rules for other branches.
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