[Congressional Record Volume 172, Number 76 (Thursday, April 30, 2026)]
[Senate]
[Pages S2151-S2152]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 AMENDING 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.
  We take a solemn oath here to our Constitution and to represent our 
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.
  Engaging in any way in a prediction market or trying to place bets 
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.
  By changing the standing rules of the Senate, what we are doing is 
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.
  So I am very proud that we have unanimous support, hopefully, from 
every single Member of the Senate to do that.
  So I ask unanimous consent that the Senate proceed to consideration 
of S. Res. 708, which is at the desk.
  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.

  There being no objection, the Senate proceeded to consider the 
resolution.
  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.
  I point out that the amendment goes broader for us as Members of the 
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.''.

[[Page S2152]]

  


     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.
  Since this is a resolution, it is immediately going into effect for 
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.
  We must never allow Congress to turn into a casino where Members 
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.
  Of all the issues we debate in Washington, this falls squarely in the 
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.
  When we come back in May, I will work with my colleagues to ensure 
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.
  The pages so rarely get recognition, but without them, where would we 
be? I am grateful.

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