Bryan Steil proposes ban on lawmakers trading political prediction contracts
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.
The proposal would restrict lawmakers’ access to political event contracts and set financial penalties for violations.