U.S. Senators John Curtis, Elissa Slotkin, Todd Young, and Adam Schiff introduced the Public Integrity in Financial Prediction Markets Act of 2026 on Mar. 26. The proposed legislation would prohibit federally elected officials and government employees from using insider information to bet on contracts in prediction markets.
The issue has gained attention following news reports about the Iran conflict, which highlighted concerns that officials with access to confidential information could use it for personal gain through prediction markets. The bill aims to address these concerns by banning the use of material non-public information for event contracts by those holding public office or government positions.
“Public service should not be a pathway to private gain,” said Senator Curtis. “Our bipartisan legislation ensures that insider trading rules apply to prediction markets and removes any ambiguity in how those rules are enforced—underscoring a basic expectation that those entrusted with sensitive information cannot use it for personal profit.” Senator Slotkin said, “No one should be profiting off the information and knowledge gained as a public servant, period. This bill is an important first step in placing common sense rules around prediction markets, and it has real teeth to ensure those who break these rules face real consequences. I am proud of our bipartisan coalition, and I thank Senators Young, Schiff and Curtis for working with me to move this important bill forward.” Senator Young added, “Public service should never be a pathway to personal profit based on insider information… Our bill will prohibit elected officials, staff, and executive branch employees from trading prediction market event contracts based on information acquired as part of their official duties. This is a sensible step to protect taxpayers and promote integrity in government.” Senator Schiff said, “The prediction markets industry can’t be left alone to self-police… That’s why we need strong rules to protect against elected officials exploiting insider information to profit on prediction markets. I’m proud to join this bipartisan effort to crack down on this insidious form of insider trading.”
Curtis serves Utah in the Senate after previously serving two terms as mayor of Provo according to his official website. He founded the Conservative Climate Caucus according to his official website and is recognized among the most effective Republican members of Congress according to his official website. In addition, he advocates for conservative environmental solutions while supporting small businesses through legislative efforts addressing public land management and human trafficking according to his official website.
Curtis also raises six children and seventeen grandchildren with his wife Sue according to his official website.
The full text of the Public Integrity in Financial Prediction Markets Act of 2026 is available online.
