House Administration Committee Approves Congressional Prediction Market Ban on 5-4 Vote

On Wednesday, the House Administration Committee approved legislation prohibiting U.S. Congress members, their spouses, and dependent children from betting on prediction markets related to government or political outcomes. The bill, led by Committee Chair Bryan Steil (R-Wisconsin), passed on a narrow 5-4 vote. Democratic committee members opposed the measure, arguing it falls short of preventing insider trading.
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