Bill > HB887

This bill prohibits public officials and employees from participating in prediction markets, which are systems where people can buy, sell, or trade "event contracts" based on the occurrence or non-occurrence of future events. Specifically, it makes it illegal for public officials and employees to maintain accounts on these markets, trade event contracts, help others trade them, or disclose confidential information to influence trading. Certain high-ranking officials and employees in specific government departments and commissions are also prohibited from having a financial interest in or receiving compensation from prediction market operators. However, these restrictions do not apply to investments made through mutual funds or blind trusts where the official has no control, nor do they prevent participation in educational or research activities without personal financial gain. The bill also outlines penalties for violations, including fines and potential forfeiture of office or employment, and requires disclosure of any prediction market accounts held in the year prior to the bill's effective date on financial disclosure statements.