Colorado Politics

Colorado Democrat Jason Crow calls on House leadership to ban trading on prediction markets

U.S. Rep. Jason Crow on Monday joined a bipartisan call asking House Speaker Mike Johnson to adopt new rules banning the chamber’s lawmakers, their families and staff from participating in prediction markets, in a move the Aurora Democrat said can help restore public trust in Congress.

The push comes less than two weeks after the Senate unanimously approved a rules change to prevent its members and staff from placing bets on current events amid increasing concerns that political and military insiders are profiting off their inside knowledge.

Crow was among 19 lawmakers who signed on to a May 11 letter organized by Republican U.S. Rep. Michael Cloud of Texas and Democratic U.S. Rep. Raja Krishnamoorthi of Illinois.

“These reforms are not partisan; they are about restoring trust in Congress as an institution,” the lawmakers said. “Members from across the political spectrum have heard the same message from our constituents: they want clear rules that prevent lawmakers from personally profiting from nonpublic information or from the outcomes of the very processes we oversee.”

Addressed to Johnson and House Minority Leader Hakeem Jeffries, the letter also urges changing House rules to prohibit trading in individual stocks, citing the same rationale.

“Members of Congress should not be personally profiting off of stock trading or placing bets in prediction markets,” Crow said in a statement. “We have to restore the American people’s trust in their government. That starts by rooting out corruption. Elected officials must be held to a higher standard.”

Crow is an original co-sponsor of legislation to ban members of Congress and their families from owning or trading individual stocks. He prohibits his own congressional staff from playing in prediction markets, a spokesman told Colorado Politics.

House lawmakers from both sides of the aisle — including Republican U.S. Rep. Ashley Hinson of Iowa and Democratic U.S. Rep. Dina Titus of Nevada — have recently introduced resolutions to bar House members and their staff from participating in prediction markets. At the same time, the Senate is considering bipartisan legislation to ban all federal elected officials and government employees from making prediction market bets based on information gained through their positions.

The Associated Press reported last month that prediction markets, including Polymarket and Kalshi, have faced heightened scrutiny after newly created accounts cleared hundreds of thousands of dollars in profits after betting on the timing of a ceasefire between the United States and Iran.

Late last month, the U.S. Department of Justice charged Gannon Ken Van Dyke, an Army soldier, based on allegations the soldier made more than $400,000 after trading on classified information related to the timing of the military operation to capture former Venezuelan President Nicolás Maduro.


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