SR 276
A Resolution urging the Congress of the United States to ban insider stock trading and betting in prediction markets.
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This resolution urges the United States Congress to ban insider stock trading and betting in prediction markets. It highlights concerns that members of Congress, the President, and other high-ranking officials may use confidential government information for personal financial gain, potentially undermining public trust. The resolution calls for legislation to prevent officials from buying or selling stocks based on non-public information and from participating in prediction markets related to government actions.
Key provisions
- Prohibits members of Congress, the President, the Vice President, and Presidential Cabinet from purchasing, selling, or holding individual stocks or securities.
- Prohibits officials from participating in prediction markets or placing financial bets on government actions.
- Requires divestiture of covered investments after election or appointment.
- Establishes civil and criminal penalties for violations.
- Designates an independent enforcement authority to investigate and prosecute violations.
Who is affected
- Members of Congress
- The President
- The Vice President
- Members of the Presidential Cabinet
- Individuals participating in prediction markets
Notable changes
- Addresses concerns about conflicts of interest arising from the use of non-public information.
- Proposes a comprehensive ban on insider trading and prediction market betting by government officials.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Christine Tartaglione
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