Pappas supports the Public Integrity in Financial Prediction Markets Act of 2026, which bans members of Congress and government employees from trading on political prediction markets when they have or could easily get inside information through their jobs.
Ban members of Congress and government employees from trading on political prediction markets when they have or could easily obtain inside information through their jobs.
Occurrences
Pappas Calls for U.S. House to Subpoena Prediction Markets, Fully Investigate Corruption and Insider Trading
Pappas supports the Public Integrity in Financial Prediction Markets Act of 2026, which bans members of Congress and government employees from trading on political prediction markets when they have or could easily get inside information through their jobs.
Evidence
"Pappas supports the Public Integrity in Financial Prediction Markets Act of 2026, which bans members of Congress and government employees from trading on political prediction markets when they have or could easily get inside information through their jobs." He also called on House Oversight to open an investigation and subpoena internal records from prediction markets.
The committee said it was opening an investigation into how users of Polymarket and Kalshi may be using nonpublic information to engage in insider trading, and requested documents and information to assess identity verification, geographic restrictions, and suspicious-trading detection.
The committee wrote that it was examining prediction-market use for insider trading and asked Polymarket for records on KYC, suspicious-trading monitoring, suspicious event contracts involving U.S./Israeli military operations in Iran, and event contracts tied to Operation Absolute Resolve.
The bill is titled the "Public Integrity in Financial Prediction Markets Act of 2026." Congress.gov shows it was introduced on 01/09/2026 and referred to the Committee on Oversight and Government Reform and the Committee on House Administration; the tracker status is "Introduced."
The bill history shows the measure was introduced by Rep. Torres on 01/09/2026 and referred to committee; no later legislative action is shown in the history excerpt.
The actions page lists the latest action as referral to the Committee on Oversight and Government Reform and the Committee on House Administration on 01/09/2026.
Assessments
Pappas supported the proposed Public Integrity in Financial Prediction Markets Act of 2026 and pushed related oversight and investigation steps, which shows a serious effort toward the promised ban. But the available legislative record shows the bill was only introduced and referred to committee, with no markup, floor passage, Senate action, or enactment. Oversight letters and investigations into prediction-market insider trading are related but do not fulfill the specific promise to ban members of Congress and government employees from such trading. Because there was a meaningful attempt but no delivered policy outcome, this is best scored as never, with effort credit.