Bitwise and GraniteShares filed with the SEC for ETFs linked to US election event contracts, following earlier filings by Roundhill Investments. The proposed funds cover the 2026 congressional elections and the 2028 presidential election; the SEC has not approved them.
The filings propose election-linked funds whose value depends on specified party outcomes, but they remain unapproved.
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US Representative Bryan Steil introduced a proposal to bar members of Congress and their families from trading political event contracts, he said on 18 June. The bill proposes a fine of $2,000 or 10% of the transaction value, whichever is greater, plus net trading profits; it requires Senate passage and could be tied to broader stock-trading legislation.
A bill called the PREDICT Act was introduced in Congress and seeks to prohibit members of Congress and federal officials from trading on prediction markets, according to the available report text.
Tema ETFs launched the Tema Trading & Prediction Markets ETF. The actively managed fund trades on CBOE under the ticker DICE and holds shares in public companies.
Offshore platforms Kalshi and Polymarket have attracted trading on Australian political and economic events, despite neither holding an Australian market licence, according to the report. Polymarket contracts on the Farrer byelection drew nearly US$500,000, while Kalshi handled close to US$100,000; Australia’s communications authority previously directed providers to block Polymarket, and Kalshi says it bars Australian residents.
Apple’s latest Form 10-K says employees and contractors must not trade event contracts or use prediction markets based on confidential information obtained through their work. The prohibition also bars sharing Apple confidential information with others who might trade, whether or not the activity amounts to insider or securities trading under applicable laws.