As House Republicans try to follow the Senate in curbing membersâ prediction market trading, one top Democrat said his party would likely oppose it in the hopes of passing a stronger ban next year â if the chamber flips in November.
âWeâre going to pass a real stock trading ban, and it will include prediction markets,â Rep. Joe Morelle, D-N.Y., said in a brief interview.
Administration Committee Chair Rep. Bryan Steil, R-Wis., first told Semafor he would aim to amend legislation limiting congressional stock trading to include prediction market restrictions. But that GOP effort faces substantial resistance from Democrats, who argue it should include the executive branch.
New Democratic pushback against prediction market provisions could make it impossible for the package to pass.
âIf they amend their bill to actually stop trading of stock, we could support the bill,â Morelle said.
â Nicholas Wu