Politics
The Massachusetts congressman cites ethics concerns and risks of insider influence as reasons to ban prediction market platforms.
Rep. Seth Moulton, D-Mass., questions witnesses during a hearing of a special House committee dedicated to countering China, on Capitol Hill, in 2023. AP Photo/Alex Brandon, File
Massachusetts Rep. Seth Moulton announced he has implemented an office-wide policy prohibiting staff from participating in prediction market platforms like Polymarket and Kalshi.
The ban took effect Wednesday and applies to all employees in Moulton’s congressional office, including district, legislative, communications, and operations staff, according to a statement released Tuesday.
Prediction markets are online platforms where users trade contracts based on the outcomes of future events, such as elections, sports results, or the economy.
Under the new policy, Moulton’s staffers are specifically barred from trading or holding positions tied to “political, legislative, regulatory, geopolitical outcomes, or any information that is learned in an official capacity,” according to the statement.
Moulton, who is currently challenging Ed Markey for his Senate seat, said these platforms raise ethical concerns for those working in government.
“Prediction markets have become a playground for corrupt insiders who are able to place bets on things like election outcomes, wars, and even the deaths of public figures,” he said. “This is creating a perverse incentive structure that poses a genuine threat to American society today.”
As the first member of Congress to adopt such a policy, Moulton said the ban reinforces that congressional staff are meant to serve their constituents — not profit from policy decisions and world events.
“My office has not, and will not, engage in these trades that run counter to every principle of a clean, honest government that works for the people,” Moulton said. “I will always hold myself and my team to the highest ethical standards, and I call on every single American elected official to do the same.”
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