A new proposed bill in the United States seeks to ban the US president and members of Congress from participating in prediction markets.

CoinFeed reported on March 26 that, according to Cointelegraph, bipartisan US lawmakers have introduced the "Preventing Real-Time Exploitation and Deceptive Insider Trading Act," which proposes banning the president, members of Congress, and senior government officials from betting on prediction markets, with their spouses and dependents also subject to restrictions. Violators would face a penalty of 10% of the total contract value and be required to forfeit all profits. This bill comes as US lawmakers and regulators are increasing scrutiny of prediction markets, targeting contracts on platforms like Kalshi and Polymarket related to politics, war, and sports. Previously, two other Democratic lawmakers introduced the "Prohibition of Trading in Sensitive Events and Federal Functions Act."