Last week, Senator Elizabeth Warren (D-MA) asked Secretary of Defense Pete Hegseth about the administration’s stance on insider trading. We didn’t get answers. |
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When government officials can legally bet on the very outcomes they control — elections, legislation, policy decisions — the system isn’t just unfair. It’s corrupt. That is exactly what prediction markets enable. And for too long, Washington has looked the other way, as you wonder whether your elected officials are looking out for you or their own bank accounts. But last week, something changed. The Senate voted to ban its members and staff from betting on prediction markets. And this week, the House introduced a companion bill banning its members from betting in prediction markets. These are good first steps, and it's proof that pressure works. But we have more work to do. Prediction markets are still wide open for conflicts of interest at the highest levels of government. Officials can still profit from information you will never have access to. And Congress? Still trading stocks. Without comprehensive legislation to ban public officials and government employees from trading on these platforms, as well as trading stocks, there is no accountability. The Senate and House have both taken a small step, so now is the time to push for real change. You should be able to trust that leaders in Washington, DC are working for the public good. We are pushing for real accountability in Washington. Will you join us? We will have more on this in the coming weeks; make sure you watch your inbox for ways you can join the fight. — POGO |
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