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April 30, 2026
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Download official Senate Record PDFReturn to issue contextAMENDING RULE XXXVII OF THE STANDING RULES OF THE SENATE TO PROHIBIT
SENATORS FROM TRADING ON PREDICTION MARKETS
Mr. MORENO. Mr. President, as you know as somebody who led an incredibly distinguished business career, integrity and confidence are the key building blocks in any institution.
constituents free of any conflicts of interest whatsoever. When we come here on the Senate floor, our constituents have to know that our only guiding light is what is best for our States, what is best for the people of our States, and what is best for the United States of America.
where we might have insider information deteriorates the confidence our constituents have in us. So it is extremely important that the public know that from this day forward, there is no chance that any Member of Congress—Member of the Senate in this case, in this resolution I am going to propose—will be involved in any prediction market whatsoever. I am presenting a resolution that makes that crystal clear.
allowing our constituents to know once and for all that no Member of the U.S. Senate, no Member of the staff of the U.S. Senate can ever use that inside information as a way to monetize this job whatsoever.
The PRESIDING OFFICER. The clerk will report the resolution by title.
The senior assistant legislative clerk read as follows:
A resolution (S. Res. 708) amending rule XXXVII of the
Standing Rules of the Senate to prohibit Senators from
trading on prediction markets.
Mr. MORENO. I ask unanimous consent that the Padilla amendment at the desk be agreed to; that the resolution, as amended, be agreed to; and that the motions to reconsider be considered made and laid upon the table with no intervening action or debate.
Senate. It is not intended to change the definitions of any of the types of contracts that we are talking about. This is about making certain that we have the integrity we need to show our constituents.
The PRESIDING OFFICER. Is there objection?
Without objection, it is so ordered.
The amendment (No. 5442) was agreed to as follows:
(Purpose: To improve the bill)
On page 2, line 1, strike “No Member” and insert “No
Member, officer, or employee”.
On page 2, line 2, insert “swap,” after “contract,”.
On page 2, line 3, insert “of an excluded commodity, as
defined in section 1a of the Commodity Exchange Act (7 U.S.C.
1a),” after “delivery”.
On page 2, line 5, insert “or contingency. Nothing in this
paragraph shall be construed to apply to insurance for which
the insured holds a lawful insurable interest” after
“event”.
SEC. 2. SENSE OF THE SENATE.
It is the sense of the Senate that the House of
Representatives, executive branch, and judicial branch should
establish restrictions similar to those under section 1
relating to participation in prediction markets.
The resolution (S. Res. 708), as amended, was agreed to.
The resolution, as amended, is as follows:
S. Res. 708
Resolved,
SECTION 1. PROHIBITION ON PREDICTION MARKET TRADING BY
SENATORS.
Rule XXXVII of the Standing Rules of the Senate is
amended—
(1) by redesignating paragraph 15 as paragraph 16; and
(2) by inserting after paragraph 14 the following:
“15. No Member, officer, or employee of the Senate may
enter into, or offer to enter into, an agreement, contract,
swap, or transaction that provides for any purchase, sale,
payment, or delivery of an excluded commodity, as 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. Nothing
in this paragraph shall be construed to apply to insurance
for which the insured holds a lawful insurable interest.”.
SEC. 2. SENSE OF THE SENATE.
It is the sense of the Senate that the House of
Representatives, executive branch, and judicial branch should
establish restrictions similar to those under section 1
relating to participation in prediction markets.
The PRESIDING OFFICER. The minority leader.
Mr. SCHUMER. Mr. President, first, I appreciate what the Senator from Ohio has done. It is a good thing that the Senate is moving swiftly to prohibit Senators and staff from playing around in prediction markets.
Senators. That is a great thing. Speaker Johnson should immediately do the same thing in the House and prohibit House Members from playing around in prediction markets as well.
representing the public can gamble on wars or economic crises or elections. That would destroy the very principle of representative government. Just the possibility that Members could have their votes influenced because of betting is reason enough to prohibit Members from meddling in the prediction markets.
category of a no-brainer. Then we should go further. This is a good start but not enough. The administration and its employees must apply these very same rules too—particularly this administration, which shows such a troubling affinity to corruption and self-dealing.
that the administration can't get rich off betting markets. But today's resolution is a very good first step, and I thank my colleague the Senator from Ohio and my colleagues on both sides of the aisle for working quickly to approve this legislation, which I am proud to support.
I yield the floor.
The PRESIDING OFFICER. The Senator from New Jersey.
Mr. BOOKER. Mr. President, I know the Senate is running behind, and I wanted to jump in, but I do invite the pages to bring a podium for me when they are ready.