GOP Bill Targets Congress Members, Imposing $2,000 Fine or 10% Trade Penalty for Betting on Kalshi and Polymarket

KALSHI-0.57%
Rep. Bryan Steil recently unveiled legislation prohibiting House members, their spouses, and dependent children from placing bets on political prediction markets such as Kalshi and Polymarket. Violators face penalties of at least $2,000 or 10% of the trade's value, whichever is higher, and must forfeit any net profits from the wager. The ban specifically covers bets on political and policy outcomes while permitting wagers on unrelated events like sports. House Speaker Mike Johnson and President Donald Trump both back the measure, which mirrors a Senate rule adopted earlier in 2026.
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