Amending the Rules of the House of Representatives to prohibit Members, officers, and employees of the House of Representatives from participating in prediction markets in certain cases, and for other purposes.
- Bill Number
- H.Res. 1248
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Congress
- Status
- Introduced
- Latest Action
- 2026-04-30: Referred to the Committee on Ethics, and in addition to the Committees on the Judiciary, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Last Updated
- 2026-06-24T08:08:15Z
AI-Generated Summary
Purpose
This House Resolution (H. Res. 1248) aims to amend the internal Rules of the House of Representatives to ban Members, officers, and employees from participating in prediction markets—betting platforms where outcomes of events are wagered on—under specific conditions, to prevent potential conflicts of interest or misuse of insider information.
Key Provisions
- Prohibition (New Rule XXIII, Clause 22): Bans House Members, Delegates, Resident Commissioners, officers, or employees from entering agreements, contracts, swaps, or transactions involving excluded commodities (as defined in the Commodity Exchange Act, meaning event-based contracts like prediction markets).
- Exceptions:
- Insurance policies where the insured has a legal insurable interest (a valid stake in the insured item).
- Lawful sports wagers (betting on sporting event outcomes with something of value at stake).
- Sense of the House (Section 2): Expresses that the executive and judicial branches should adopt similar restrictions on prediction market participation.
Significant Changes to Existing Law
- Redesignates existing Clause 22 as Clause 23 in Rule XXIII and inserts a new Clause 22.
- Introduces the first explicit House rule targeting prediction markets, building on broader ethics rules without directly altering federal statutes.
Potential Impacts
- On House Personnel: Restricts personal financial activities, potentially reducing risks of insider trading-like behavior using non-public government information.
- On Government: Encourages similar ethics standards across federal branches via the non-binding "sense of the House," which could influence policy without legal force.
- On Citizens and Markets: Minimal direct impact on public; indirectly promotes fairness in prediction markets by limiting congressional involvement.
- No notable effects on international relations.
Main Stakeholders Affected
- Primary: House Members (including Delegates and Resident Commissioners), officers, and employees—directly prohibited from certain trades.
- Secondary: Prediction market operators (e.g., platforms like those betting on elections or events); executive and judicial branch personnel (via recommended restrictions).
Notable Legal, Constitutional, or Political Implications
- Legal: Enforces House ethics internally; relies on Commodity Exchange Act definitions, avoiding new federal law but potentially overlapping with securities regulations.
- Constitutional: Aligns with Congress's authority to govern its own rules (Article I, Section 5); no First Amendment issues as it targets official conduct, not speech.
- Political: Signals bipartisan concern over emerging financial tools like prediction markets amid debates on gambling and insider advantages; "sense of the House" could spur voluntary executive/judicial action or future legislation.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (26)
Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Ruiz, Raul [D-CA-25], Rep. Deluzio, Christopher R. [D-PA-17], Rep. Tlaib, Rashida [D-MI-12], Rep. Vindman, Eugene Simon [D-VA-7], Rep. DelBene, Suzan K. [D-WA-1], Rep. Goldman, Daniel S. [D-NY-10], Rep. Moulton, Seth [D-MA-6], Rep. Magaziner, Seth [D-RI-2], Rep. Auchincloss, Jake [D-MA-4], Rep. Trahan, Lori [D-MA-3], Rep. Krishnamoorthi, Raja [D-IL-8], Rep. Goodlander, Maggie [D-NH-2], Rep. DeLauro, Rosa L. [D-CT-3], Rep. Brownley, Julia [D-CA-26], Rep. Torres, Norma J. [D-CA-35], Rep. Davids, Sharice [D-KS-3], Rep. Grijalva, Adelita S. [D-AZ-7], Rep. Crow, Jason [D-CO-6], Rep. Vasquez, Gabe [D-NM-2], Rep. Lynch, Stephen F. [D-MA-8], Rep. Craig, Angie [D-MN-2], Rep. Levin, Mike [D-CA-49], Rep. Pocan, Mark [D-WI-2], Rep. Huffman, Jared [D-CA-2], Rep. Carbajal, Salud O. [D-CA-24]
Recent Actions
- 2026-04-30: Referred to the Committee on Ethics, and in addition to the Committees on the Judiciary, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-04-30: Referred to the Committee on Ethics, and in addition to the Committees on the Judiciary, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-04-30: Referred to the Committee on Ethics, and in addition to the Committees on the Judiciary, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-04-30: Submitted in House
Bill Versions
- Amending the Rules of the House of Representatives to prohibit Members, officers, and employees of the House of Representatives from participating in prediction markets in certain cases, and for other purposes. — issued 2026-04-30 — PDF (3 pages)