CONGRESS FOR VOTERS

Alex Padilla (D-CA)

To improve the bill.

S.Amdt. 5442 · Senate amendment

A Democratic amendment with no cosponsors

Changes S.Res. 708 — A resolution amending rule XXXVII of the Standing Rules of the Senate to prohibit Senators from trading on prediction markets.

Last activity — Notwithstanding passage of S.Res. 708 and the adoption of amendment SA 5442 to S.Res. 708, the amendment SA 5442 is modified with the technical correction at the desk and is agreed to, as modified, by Unanimous Consent.

Adopted

The Senate agreed to this amendment, so its changes are part of the bill from here on.

Its path through Congress

  1. Introduced
  2. Passed Senate
  3. Adopted

What this amendment would do

The purpose of this amendment is to improve the bill. It aims to change the following:

  • It expands the prohibition from just "Member" to include "Member, officer, or employee".

  • It adds "swap" after "contract".

  • It adds a reference to an "excluded commodity, as defined in section 1a of the Commodity Exchange Act (7 U.S.C. 1a)" after "delivery".

  • It adds "or contingency" after "event" and specifies that it does not apply to insurance where the insured has a lawful insurable interest.

  • It adds a section stating it is the sense of the Senate that the judicial branch, executive branch, and House of Representatives should set up similar restrictions regarding participation in prediction markets.