U.S. Senators Todd Young, Elissa Slotkin, John Curtis, and Adam Schiff introduced the bipartisan Public Integrity in Financial Prediction Markets Act of 2026 on Mar. 26. The legislation would prohibit federally elected officials and government employees from using insider information to place bets on prediction market contracts.
The bill addresses concerns that individuals with access to confidential government information could use it for personal financial gain through event contracts on prediction markets. This move comes after reports about the potential misuse of sensitive data during events such as the Iran war strikes.
“Public service should never be a pathway to personal profit based on insider information,” said Senator Young. “Recent activity in prediction markets has raised real concerns that individuals with access to sensitive, nonpublic information could exploit that advantage for financial gain. Our bill will prohibit elected officials, staff, and executive branch employees from trading prediction market event contracts based on information acquired as part of their official duties. This is a sensible step to protect taxpayers and promote integrity in government.”
Senator Slotkin said, “No one should be profiting off the information and knowledge gained as a public servant, period. This bill is an important first step in placing common sense rules around prediction markets, and it has real teeth to ensure those who break these rules face real consequences. I am proud of our bipartisan coalition, and I thank Senators Young, Schiff and Curtis for working with me to move this important bill forward.” Senator Curtis added: “Our bipartisan legislation makes clear that public service is not a pathway to private gain… By extending long-standing insider trading principles to prediction markets, this bill closes a dangerous loophole and reinforces a basic expectation: those entrusted with sensitive information cannot use it to bet on the future for personal profit.” Senator Schiff said: “The prediction markets industry can’t be left alone to self-police… That’s why we need strong rules to protect against elected officials exploiting insider information to profit on prediction markets. I’m proud to join this bipartisan effort to crack down on this insidious form of insider trading.”
Young’s background includes serving as an intelligence officer in the U.S. Marine Corps before earning an honorable discharge as captain after ten years of service according to his official website. He graduated with honors from the United States Naval Academy and holds advanced degrees including an MBA from the University of Chicago according to his official website. He also operates offices across Indiana—including Indianapolis, New Albany, Fort Wayne, Valparaiso—and Washington D.C., supporting constituents through responsive services according to his official website.
Young serves on committees overseeing finance; commerce science and transportation; small business and entrepreneurship; as well as intelligence matters according to his official website. He promotes conservative solutions aimed at economic growth and national security drawing upon his military experience according to his official website.
As lawmakers consider new regulations for emerging financial technologies like prediction markets, supporters say such measures are intended both for accountability among public servants and safeguarding taxpayer interests.
