H.R. 8838

119 HR 8838 IH: Congressional Prediction Market Ban Act of 2026
 U.S. House of Representatives
 2026-05-14
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 I  119th CONGRESS  2d Session  H. R. 8838  IN THE HOUSE OF REPRESENTATIVES   May 14, 2026   Mr. Vindman  introduced the following bill; which was referred to the  Committee on House Administration    A BILL
To amending  chapter 131  of title 5, United States Code, to prohibit Members of Congress from certain participation in prediction markets, and for other purposes.
1.
Short title
This Act may be cited as the   Congressional Prediction Market Ban Act of 2026  .
2.
Prohibition on Members of Congress and family members from participation in prediction markets
(a)
In general
 Chapter 131  of title 5, United States Code, is amended by adding at the end the following:
IV
Prohibition on participation in prediction markets
13151.
Definitions
In this subchapter:
(1)
Member of Congress and congressional ethics committees
The terms  Member of Congress  and  congressional ethics committees  have the meanings given the terms in section 13101.
(2)
Covered transaction
The term  covered transaction  means a purchase, sale, or exchange of a prediction market contract.
(3)
Prediction market contract
The term  prediction market contract —
(A)
means an agreement, contract, swap, or transaction that provides for any purchase, sale, payment, or delivery of an excluded commodity, as such term is defined in section 1a of the Commodity Exchange Act ( 7 U.S.C. 1a ), that is dependent on the occurrence, nonoccurrence, or the extent of the occurrence of a specific event or contingency; and
(B)
does not include insurance for which the insured holds a lawful insurable interest.
13152.
Prohibition of participation in prediction markets
(a)
Prohibition
(1)
In general
A Member of Congress may not engage in, be a party to, or benefit from, a covered transaction.
(2)
Benefit from a household member
A Member of Congress receives a benefit from a covered transaction if—
(A)
an individual in the same household as the Member engages in, or is a party to, a covered transaction; and
(B)
the transaction results in a payment paid, or benefit given, to the individual or another individual in the household.
(b)
Certification
(1)
In general
Not later than 15 days after the start of a calendar year, a Member of Congress—
(A)
who is a Member of the House of Representatives shall certify to the Clerk of the House of Representatives that the Member has complied with subsection (a) with respect to the most recent completed calendar year; and
(B)
who is a Member of the Senate shall certify to the Secretary of the Senate that the Member has complied with subsection (a) with respect to the most recent completed calendar year.
(2)
Report
The Clerk of the House of Representatives and the Secretary of the Senate shall make available on the public website of the Clerk and the Secretary, respectively, any certification made under this subsection.
13153.
Penalties
(a)
Investigation
A congressional ethics committee shall promptly investigate any Member of Congress subject to the jurisdiction of the committee concerned who—
(1)
does not comply with section 13152(b) for a calendar year; or
(2)
is subject to a credible report of a violation of section 13152(a).
(b)
Penalty
In accordance with the rules of the House of Congress concerned, a Member of Congress who is found to have violated section 13152(a) shall be fined an amount determined by the House of Congress that shall be the greater of—
(1)
$10,000; or
(2)
the amount equal to triple the profit made by the Member of Congress as a result of the violation.
(c)
Deposit in the Treasury
The amounts paid by a Member of Congress for a fine under subsection (b) shall be deposited in the miscellaneous receipts of the Treasury.
(d)
Additional measures
Subject to the rules of the House of Congress concerned, a congressional ethics committee may pursue, advise, or recommend additional sanctions or remedies with respect to a violation of section 13152(a) by a Member of Congress who is subject to the jurisdiction of the committee.
13154.
Duties of congressional ethics committees
The congressional ethics committees shall carry out the following:
(1)
Establish procedures with respect to the certification requirements under section 13152(b) and the reporting requirements under section 13152(c).
(2)
Issue guidance with respect to compliance with the requirements under this subchapter.
(3)
Make available, on a public website under the authority of each congressional ethics committee, the procedures and guidance under this section and other such materials necessary or appropriate to assist Members of Congress in complying with the requirements under this subchapter.
  .
(b)
Conforming amendment
The table of contents of such chapter is amended by adding at the end the following:
Subchapter IV—Prohibition on participation in prediction markets
13151. Definitions.
13152. Prohibition of participation in prediction markets.
13153. Penalties.
13154. Duties of congressional ethics committees.
  .
3.
Transition provisions
(a)
Procedures and guidance
Not later than 90 days after the date of the enactment of this Act, the congressional ethics committees shall carry out the duties of the committees under paragraphs (1) and (2) of section 13154 of title 5, United States Code, as added by this Act.
(b)
Start of compliance
Not later than 180 days after the date of the enactment of this Act, a Member of Congress shall comply with section 13152 of such title, as added by this Act.
(c)
Definitions
In this section, the terms  Member of Congress  and  congressional ethics committees  have the meanings specified in section 13151 of such title, as added by this Act.