Bipartisan Bill Targets Political Betting by Federal Officials
Rep. Adrian Smith (R-NE) and Rep. Nikki Budzinski (D-IL) introduced the PREDICT Act on March 25, targeting federal officials, their spouses, and dependents who trade on platforms such as Kalshi and Polymarket. Violations would carry a civil penalty of 10% of the transaction value plus full disgorgement of profits to the U.S. Treasury. A Harvard…