imposing

U.S. lawmakers introduced the #PREDICT Act, which aims to prohibit the President, members of Congress, and other senior #Government officials from participating in prediction market trading.

The bill was jointly introduced by Adrian Smith and Nikki Budzinski, seeking to restrict the use of insider information for engaging in prediction activities related to political events or policy outcomes, and extending its scope to cover spouses and family members of the aforementioned individuals.

The bill also proposes #imposing a fine equal to 10% of the total contract value for violations and confiscating all profits, which would be remitted to the U.S. Treasury.

[ChainCatcher]
#USLawmakers
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