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Ritchie Torres plans bill restricting federal workers' prediction-market trades

Regulation

Representative Ritchie Torres reportedly plans to introduce a bill restricting some federal workers' trading in prediction-market contracts tied to government policy, actions or political outcomes. The proposed restrictions would apply to officials who encounter non-public information through their jobs, according to a post cited in the report; the bill has not been introduced or enacted.

The proposal could impose new trading restrictions on prediction-market platforms and eligible federal officials if enacted.

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Regulation

House Democrats seek subpoena power to investigate prediction-market trades

Seven House Democrats, led by Representative Chris Pappas, asked House Oversight Committee chair James Comer on Monday for subpoena power to investigate possible insider trading tied to prediction markets and US military operations. Their request follows allegations about trades ahead of military actions and a separate case involving a soldier accused of using confidential information; the lawmakers cited earlier calls for the Commodity Futures Trading Commission to restrict contracts linked to death or armed conflict.

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