Amending the Rules of the House of Representatives to prohibit Members of the House from entering into certain agreements, contracts, or transactions with respect to prediction markets.

House lawmakers barred from prediction markets

This resolution would change the House rules to block Members, Delegates, the Resident Commissioner, officers, and employees from entering into or offering event-based prediction-market contracts. It would ban any agreement, contract, swap, or transaction that provides for a purchase, sale, payment, or delivery of an "excluded commodity" (as defined in section 1a of the Commodity Exchange Act) when payment depends on the occurrence, nonoccurrence, or extent of a specific event or contingency. It would not apply to insurance for which the insured holds a lawful insurable interest. The resolution would also express the Sense of the House that the executive and judicial branches should adopt similar restrictions.