HRES 1263
Amending the Rules of the House of Representatives to prohibit Members of the House from entering into certain agreements, contracts, or transactions with respect to prediction markets.
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Bill overview
This resolution changes the rules of the House of Representatives to prevent members, delegates, and staff from engaging in agreements, contracts, or transactions related to prediction markets. Specifically, it prohibits trading in commodities whose value depends on a particular event’s outcome, with one exception for insurance policies where the insured has a legitimate interest. The resolution also urges the executive and judicial branches to consider similar restrictions. This aims to increase transparency and prevent potential conflicts of interest.
Key provisions
- Prohibits House members from trading in commodities linked to specific events.
- Defines ‘excluded commodity’ based on the Commodity Exchange Act.
- Exempts insurance policies with a lawful insurable interest.
- Redesignates and inserts a new rule into the House Rules.
- Calls for similar restrictions in the executive and judicial branches.
Who is affected
- Members of the House of Representatives
- Delegates
- Resident Commissioners
- House officers
- House employees
Notable changes
- Creates a specific prohibition on trading in prediction market commodities.
- Adds a new rule to the House Rules addressing prediction market activity.
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119th CONGRESS — 2d Session
H. RES. 1263
IN THE HOUSE OF REPRESENTATIVES
RESOLUTION
Amending the Rules of the House of Representatives to prohibit Members of the House from entering into certain agreements, contracts, or transactions with respect to prediction markets.
Rule XXIII of the Rules of the House of Representatives is amended—
by redesignating clause 22 as clause 23; and
by inserting after clause 21 the following:
It is the sense of the House of Representatives that the executive branch and judicial branch should establish restrictions similar to those added to the Rules of the House of Representatives under section 1 relating to participation in prediction markets.