Including Former House Speaker, 30 Democratic Lawmakers Support Insider Trading Ban for Prediction Markets

BlockBeats News, January 10th, according to The Block, a group of 30 Democrats including former House Speaker Nancy Pelosi are actively supporting legislation that would prevent elected officials from engaging in politically related betting on prediction markets, following a gambling incident involving former Venezuelan President Nicolás Maduro's arrest.

The legislation, titled the "2026 Financial Prediction Market Public Integrity Act," was formally introduced on Friday by New York State Assemblyman Ritchie Torres. Previously, an account on Polymarket bet on Maduro being "ousted" by the end of this month, profiting $400,000, raising concerns about insider trading, with the introduction of this bill coinciding with increasing concerns about it.