Congress
House panel advances bill banning lawmakers from political betting markets
House Republicans have advanced a bill that would prohibit members of Congress and their family members from trading on certain Washington-focused prediction markets.
The House Administration Committee’s GOP members on Wednesday voted along party lines in favor of the legislation, which proposes to bar lawmakers, their spouses and their dependent children from participating on prediction markets that are based on the outcome of elections or government actions.
It marks the latest in Capitol Hill’s efforts to curb the threat of insider trading on the prediction markets — a risk that has burst into the spotlight in recent months after a series of well-timed trades around the capture of then-Venezuelan leader Nicolás Maduro, Google’s search results and the Iran war. Earlier this year, the Senate banned its members and their staffs from trading on the prediction markets altogether, effective immediately.
And yet, the House Administration Committee vote also revealed a fracture within the House over how far to go in clamping down on lawmakers’ use of the prediction markets. Democrats opposed the bill, saying it didn’t go far enough, while Republicans supported it.
Rep. Joe Morelle of New York, who is the committee’s top Democrat, argued that the legislation is “so filled with loopholes that it looks more like a sieve than a bill.” Instead of passing such a bill, he said the House should follow the Senate’s lead and approve a new and broader resolution aimed at prediction market use among members and their staffs.
“The Senate did it in a matter of minutes — no six-month grace period, no procedurally laborious process,” Morelle said. “They just went to the floor with a two-page resolution and banned it all unanimously. We should do the same.”
House Administration Chair Bryan Steil, who introduced the bill, hit back at his Democratic counterpart’s concerns by questioning why members’ families shouldn’t be allowed to bet on sports through the prediction markets — but can through sportsbooks or casinos.
The Wisconsin Republican pointed to a hypothetical scenario where a member’s child is at college and bets on a sporting event through a prediction market platform. That situation, he said, could be covered by a broader prohibition.
Steil, rather, said his bill is aimed at addressing public policy- and election-focused markets.
“Lawmakers elect to serve the American people, not to enrich themselves by wagering on outcomes from the decisions they make,” he said. “We have a real opportunity to restore trust in Congress by taking necessary steps to eliminate even the appearance of impropriety.”
President Donald Trump and Speaker Mike Johnson will meet at the White House Tuesday with the executives of top artificial intelligence companies, according to two people granted anonymity to discuss private plans.
The meeting comes as Congress is coming under increasing pressure to put federal guardrails on AI development, as fears mount that technological advancements could soon spiral beyond human control.
Responding to some warnings that AI development was on track to cause human extinction by the end of the decade, Johnson has said he wants Trump and AI CEOs to “go in a big room, close the door and sort this out.” He has yet to endorse major legislative action to address the issue, as Trump has resisted calls for government regulations, citing concerns about lagging behind China.
The president and speaker were in attendance at the State Dinner on Thursday night in honor of Chinese President Xi Jinping’s visit to Washington, as were OpenAI CEO Sam Altman, Nvidia CEO Jensen Huang, Meta CEO Mark Zuckerberg and Google CEO Sundar Pichai. It was not immediately clear which of these executives would be invited to next week’s meeting, and who will be participating.
News that the meeting had been scheduled was first reported by Axios.
A group of 10 Democrats has signed on to Rep. Greg Casar’s (D-Texas) bill that would ban superintelligence and pause advanced AI development until a vetting regime could be stood up.
Reps. Alexandria Ocasio Cortez (D-N.Y.) and Ro Khanna (D-Calif.), both of whom are mulling a 2028 presidential run, are cosponsoring the bill, named the Ban Artificial Superintelligence Act.
Khanna, in a statement, noted that he convened a hearing this week on AI safety cooperation between the U.S. and China as ranking member of the House China Select Committee with AI experts who underscored the need for a verifiable pause on superintelligence.
AI superintelligence is an as-yet hypothetical form of the advanced technology that surpasses humans’ cognitive capabilities, but exactly when AI crosses the threshold into superintelligence remains contested. The bill would subject violators to a 20-year prison sentence.
The support from prominent progressives in the Democratic caucus comes as the party is navigating how they would approach AI regulation should they retake control of one or both chambers in November.
Other cosponsors include Reps. Analilia Mejia of New Jersey, Yassamin Ansari and Adelita Grijalva of Arizona, Val Hoyle of Oregon, Stephen Lynch of Massachusetts, Chuy García of Illinois, Chris Deluzio of Pennsylvania and Nydia Velázquez of New York.
“We absolutely have to slow down and regulate the advancement of dangerous AI technologies that have the potential to spiral out-of-control and threaten humanity,” Ansari said.
To Lynch, a string of recent AI-led cyberbreaches has “shown us that the advanced forms of this are out of control,” he said in an interview. “We haven’t really solved that control problem yet, nor have we got the alignment problem right yet.”
Casar’s bill, introduced this week with Sen. Bernie Sanders (I-Vt.), is among the most stringent AI regulations proposed by either party.
Rather than focusing on bans as Casar and his progressive allies have done, centrist Democrats are looking to legislative proposals they say can address the technology’s risks without stifling innovation.
Senate Republicans are discussing whether to call up a data center utility costs bill as they make plans to stay in Washington next week rather than beat an early exit before the midterms.
Two GOP aides who spoke on the condition of anonymity said the Senate will remain in town amid pressure from some corners of the party to send members home early to campaign.
Asked if the Senate will stay next week, Majority Leader John Thune said Thursday it’s “looking that way.”
While some lawmakers had hoped to move a long-brewing bipartisan energy permitting deal, those hopes have evaporated, and GOP leaders are instead eyeing votes on the Ratepayer Protection Act — a top priority of endangered Ohio Sen. Jon Husted.
Thune said Thursday moving to the data-center-focused bill next week “is an option.” The Senate is also expected to take up a Democratic resolution condemning the Iran war and several presidential nominations.
The Ratepayer Protection Act easily passed the House earlier this month, but some Senate Democrats are arguing it does not go far enough and party leaders could be motivated to deny Husted a pre-election win.
Josh Siegel contributed to this report.
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