CONGRESS FOR VOTERS

Nikki Budzinski (D-IL)

PREDICT Act

H.R. 8076 · House bill Government Operations and Politics

A Democratic bill with 14 Republican cosponsors · See all 27 cosponsors

Last activity — Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill is known as the Preventing Real-time Exploitation and Deceptive Insider Congressional Trading Act or the PREDICT Act. It stops certain officials from trading on prediction markets regarding specific political events. Covered individuals include Members of Congress, dependent children, spouses, the President, the Vice President, political appointees, and judicial officers. If these individuals violate the trading rules, they must pay fees and give up their profits. The supervising ethics office will publish descriptions of assessed fines, reasons for the fines, and assessment results on a publicly available website.

Yes

  • Scored +7

    Does this make what the government does easier for the public to see?

    The bill requires ethics offices to publish details of fines and reasons for assessments on a public website.

  • Scored +3

    Does this give people more protection from unfair business practices?

    The bill increases transparency and prevents potential insider trading by government officials in prediction markets.

The opposite

  • Scored -4

    Would high-income households be better off under this?

    The bill imposes significant financial penalties and profit disgorgement on high-ranking government officials who participate in prediction markets.