Public Integrity in Financial Prediction Markets Act of 2026, the official text

119 HR 7004 IH: Public Integrity in Financial Prediction Markets Act of 2026
U.S. House of Representatives
2026-01-09
text/xml
EN
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I 119th CONGRESS 2d Session H. R. 7004 IN THE HOUSE OF REPRESENTATIVES January 9, 2026 Mr. Torres of New York (for himself, Ms. Titus , Mr. Latimer , Ms. Norton , Mr. Sherman , Mr. Thanedar , Mr. Moulton , Ms. McBride , Ms. Adams , Ms. Bynum , Mr. Stanton , Ms. Pettersen , Ms. Sewell , Mr. Foster , Mr. Subramanyam , Ms. Pelosi , Mr. Casten , Mr. Goldman of New York , Mr. Bell , Mr. Carson , Mr. Horsford , Mr. Levin , Mr. McGarvey , Mr. Deluzio , Ms. McDonald Rivet , Mr. Vargas , Mr. Soto , Mr. Hernández , Ms. Tlaib , Mr. Riley of New York , Mr. Vindman , Ms. Meng , and Ms. McCollum ) introduced the following bill; which was referred to the Committee on Oversight and Government Reform , and in addition to the Committee on House Administration , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned
A BILL To prohibit a covered individual from engaging in covered transactions involving prediction market contracts, and for other purposes.
1. Short title
This Act may be cited as the Public Integrity in Financial Prediction Markets Act of 2026 .
2. Prohibition on covered transactions involving prediction market contracts
(a) In general
It shall be unlawful for a covered individual to knowingly engage in a covered transaction if the covered individual—
(1) at the time of the covered transaction, possesses material nonpublic information relevant to such covered transaction; or
(2) may reasonably obtain such material nonpublic information in the course of performing official duties, including when such information would not otherwise be available to a member of the public exercising reasonable diligence.
(b) Definitions
In this section:
(1) Covered individual
The term covered individual means—
(A) an elected official of the Federal Government;
(B) an employee of the House of Representatives or the Senate;
(C) a political appointee; or
(D) an employee of an Executive agency, as defined in section 105 of title 5, United States Code.
(2) Material nonpublic information
The term material nonpublic information means information—
(A) that a reasonable investor would consider important in making an investment decision; and
(B) that is not publicly available.
(3) Prediction market contract
The term prediction market contract means any financial instrument, contract, or derivative—
(A) listed on or offered by a platform engaged in interstate commerce; and
(B) tied to the occurrence or non-occurrence of a future event, including market-based event contracts.
(4) Covered transaction
The term covered transaction means the purchase, sale, or exchange of any prediction market contract related to a—
(A) government policy;
(B) government action; or
(C) political outcome.