Pelosi and thirty other Democrats jointly promote the "Anti-Insider Trading in Prediction Markets" bill

BlockBeats News, January 10, according to The Block, thirty Democratic Party members, including former Speaker of the House Nancy Pelosi, are jointly promoting legislation aimed at prohibiting elected officials from placing political-related bets on prediction markets. This move stems from recent betting events related to the arrest of former Venezuelan President Nicolás Maduro.

This proposal, named the "2026 Financial Prediction Market Public Integrity Act," was formally submitted on Friday by New York Democratic Congressman Ritchie Torres. According to Axios, a user previously bet on Polymarket that Maduro would "step down" by the end of this month and profited $400,000, raising concerns about insider trading and accelerating the advancement of this bill.

In a statement on Friday, Torres said: "Imagine if a member of the Trump administration placed a bet on a prediction market about Maduro stepping down. As an insider and a participant in the prediction market, this person would face a strong temptation to profit from policy decisions." He emphasized: "It is imperative to completely prohibit government insiders from profiting through prediction markets."