Bill > HRes1248

This Resolution amends the official rules of the U.S. House of Representatives to ban members, delegates, the resident commissioner, officers, and congressional employees from participating in certain "prediction markets," which are financial platforms where people bet money on the outcomes of future events, such as elections or legislation. This rule change targets financial contracts tied to specific occurrences involving excluded commodities regulated under the Commodity Exchange Act—a federal law that oversees derivatives and futures trading—effectively preventing lawmakers and their staff from profiting off inside knowledge or the outcomes of government actions. However, the restriction specifically exempts lawful forms of insurance and traditional sports betting, which is defined as staking items of value on the outcomes of sporting events. Finally, the measure includes a non-binding "sense of the House" statement, which expresses the view that the executive and judicial branches of the federal government should adopt similar ethical restrictions to prevent government officials in those branches from trading in prediction markets as well.