According to the Senate Press Gallery, U.S. senators are now barred from trading on prediction markets following the unanimous passage of S. Res. 708 on Thursday. The measure, introduced by Sen. Bernie Moreno (R-Ohio), amends the Senate’s standing rules and became effective immediately.
The ban addresses insider trading concerns that intensified after a Polymarket account wagered that Venezuelan President Nicolás Maduro would be “out” by the end of January, netting $400,000. Prosecutors later arrested active-duty U.S. Army Soldier Gannon Ken Van Dyke, 38, for allegedly using confidential information to place the bet. He has pleaded not guilty.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Gemini Secures Derivatives License for Prediction Markets
Tyler and Cameron Winklevoss' crypto exchange Gemini now holds licenses enabling expansion into regulated derivatives and prediction markets, according to the announcement. These sectors represent the fastest-growing segments in crypto.
Note: Source material provided contains limited detail. No
CryptoFrontier1h ago
Polymarket Defense Bets Show Unusual Win Rates, Trader Study Finds
Polymarket Defense Trading Patterns Under Scrutiny
New data indicates unusually high win rates in defense-related bets on Polymarket, according to reporting on the platform's trading activity. The finding builds on earlier research that identified concentrated trading influence on the platform.
CryptoFrontier2h ago
Polymarket Taps Chainalysis for Insider Trading Monitoring Amid $15B Valuation Push
Polymarket has enlisted blockchain data firm Chainalysis to help police insider trading and fraud on its platform as the prediction market seeks to raise $400 million at a $15 billion valuation and gain approval to relaunch in the U.S., according to a statement from Thursday. The
CryptoFrontier5h ago
Bitcoin April Rally Built on Futures, Not Spot Demand: CryptoQuant
Bitcoin climbed 20% in April, surging from roughly $66,000 to a monthly peak of $79,000, but according to analysis from crypto data firm CryptoQuant released Thursday, the rally may have been built on speculative positioning rather than genuine buyer demand. The firm found that the entire price
CryptoFrontier6h ago
Polymarket Taps Chainalysis to Combat Insider Trading Amid $15B Valuation Push
Polymarket has enlisted blockchain data firm Chainalysis to help police insider trading and "all types of fraud and market manipulation" as the prediction market seeks to raise $400 million and gain approval to relaunch in the U.S., according to a statement from Thursday. The company stated that "in
CryptoFrontier11h ago
A certain CEX has launched a daily crypto price prediction promotion
A leading crypto exchange announced on April 30 that it is expanding its prediction market by launching daily crypto prediction activities. Users can now trade based on short-term price trends of major assets such as Bitcoin, Ethereum, and Solana, with no margin requirements and no liquidation risk. The platform also runs prediction tournaments through May 20, 2026, offering weekly rewards. The exchange plans to roll out higher-frequency hourly, 15-minute, and 5-minute events in the coming weeks.
GateNews12h ago
