The United States Senate hath resolved, by a unanimity that would surprise the most sanguine parliamentarian, to forbid all senators and their staff from placing wagers upon political prediction markets, including the platforms of Polymarket and Kalshi. The resolution, presented by the Honourable Senator Moreno, a Republican of no small energy, also fixed upon the end of May as the deadline for the CLARITY Act.
he is the very gentleman who did publicly warn that the CLARITY Act must needs pass by the end of May or be deferred until the year 2030.
On May the first, the Senate did pass the ban with the same decorum and uniformity that dictates all acts of consequence, for which we may all be grateful. As Crypto.news records, the CFTC hath lately been contending with a legal contest among New York, Illinois, Arizona, and Connecticut over the jurisdiction of prediction markets, rendering this unanimous vote a most pointed political signal that Congress deems political event trading quite apart from the commercial prediction market activities the CFTC hath defended. Kalshi further affirmed its response to the resolution, stating that it already obstructs Members of Congress, adding, “This is a great step to increase trust in markets.” Crypto Integrated noted that the resolution bars senators and their staff from wagering upon political events on platforms such as Polymarket and Kalshi, which had, in more public moments, attracted attention for data that did seem to move in ways that might presage legislative outcomes before their public disclosure.
As Crypto.news documented, the CFTC contendeth that prediction markets on political events are legitimate instruments of finance subject to its jurisdiction rather than mere gambling. As Crypto.news tracked, the resolution arose from a broader discourse on whether legislators, blessed with access to non-public information, possess an undue advantage upon prediction platforms, a state of affairs that doth threaten the credibility of markets designed to collect dispersed knowledge.
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2026-05-02 15:58