The US Senate passed a resolution banning senators from trading in prediction markets.

CoinFeed reported on May 1st that, according to The Block, the US Senate unanimously passed S. Res. 708, prohibiting senators from trading in prediction markets. The resolution is effective immediately. The proposal, introduced by Ohio Republican Senator Bernie Moreno, aims to prevent insider trading. Previously, a Polymarket account profited $400,000 betting on the "removal" of Venezuelan President Maduro, raising concerns about insider information. Last week, US Army soldier Gannon Ken Van Dyke was arrested in connection with this, but he has pleaded not guilty. Kalshi founder Tarek Mansour called the move "an important step," and Polymarket expressed its full support, stating that its rules and terms already prohibit such behavior, but the clarification of the legislation is progress for the industry.