House Memo Targets Officials’ Prediction Market Bets

House Oversight staff want Congress to curb officials’ prediction market bets, at least on government actions and political outcomes. The November 13 memo aims those limits at officials who trade, leaving the platforms’ business intact. The size of that business shows in Robinhood’s results. The broker’s event contracts revenue rose more than sixfold year over year in Q3 2026. Who Congress Wants Off the Betting Slip The committee opened its probe in May and widened it to five platforms in September. Staff asked Congress to consider two steps: Restrict officials in all branches from prediction markets, through an outright ban or limits on government and political contracts. Have platforms and regulators share the data needed to enforce those limits. The limits would apply even when officials trade without inside information.

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