Honesty and Trust in Service Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill, the Honesty and Trust in Service Act, aims to prevent Department of Defense personnel from using prediction markets. Specifically, it prohibits members of the military and civilian employees of the DoD from using prediction markets if they possess inside information or could reasonably obtain it through their jobs. The Secretary of Defense will issue regulations to enforce this prohibition and outline potential punishments for violations. This legislation focuses on maintaining integrity and preventing misuse of information within the Department of Defense.
Key provisions
- Prohibits DoD personnel from using prediction markets.
- Applies to members of the Army, Navy, Air Force, Marine Corps, and Space Force.
- Covers civilian employees of the Department of Defense.
- Restricts use when personnel have material nonpublic information.
- Prohibits use when personnel could reasonably obtain such information.
- Requires the Secretary of Defense to issue regulations.
- Specifies a range of punishments for violations.
Who is affected
- Department of Defense personnel
- Members of the Army
- Members of the Navy
- Members of the Air Force
- Members of the Marine Corps
Notable changes
- Creates a specific prohibition on prediction market use by DoD personnel.
- Addresses the potential for insider trading through the use of prediction markets.
Bill text
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Sponsors
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1 on record
Primary sponsor
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