PREDICT Act

This legislation aims to prevent federal officials from engaging in trading activities on prediction markets. It defines a broad scope of covered individuals , encompassing Members of Congress, the President, the Vice President, political appointees, and high-ranking employees across the legislative, executive, and judicial branches, as well as their spouses and dependent children. The bill seeks to ensure that those with access to sensitive information do not financially benefit from political outcomes. Specifically, the bill prohibits these individuals from entering into any agreement or transaction whose outcome is dependent on a specific political event. Violations will result in a penalty fee equal to ten percent of the transaction's value and the disgorgement of any profits , which must be paid into the Treasury. To promote transparency, supervising ethics offices are required to publicly publish details of all assessed fines, including the reasons and results, and penalties cannot be paid from campaign funds or federal office allowances.