The Coalition for Prediction Markets has shown support for Representative Ritchie Torres’s effort to strengthen integrity in the sector.
It was in early January when the Congressman announced he would be introducing a bill called the ‘Public Integrity in Financial Prediction Markets Act of 2026.
If passed, it would prohibit federal elected officials, political appointees, Executive Branch employees, and congressional staff from buying, selling, or exchanging prediction market contracts tied to government policy, government action, or political outcomes when they are privy to non-public information or could reasonably obtain such information through their work.
This came at a time when an anonymous Polymarket user cashed out with over $400,000 on a trade related to the operation to depose Venezuelan President Nicolás Maduro which prompted some concerns.
Coalition for Prediction Markets is aiming to keep the market accessible to everyone
In a post on X, the recently formed coalition has shared Rep Ritchie Torres’ op-ed piece in the Washington Post and expanded on their views.
We support @RepRitchie Torres's effort to strengthen integrity and accountability in prediction markets, and we welcome the opportunity to work with Rep. Torres and others to reinforce clear, enforceable standards that keep these markets transparent and trusted.
Our coalition's…
— Coalition for Prediction Markets (@PredictAction) January 15, 2026
“We support @RepRitchie Torres’s effort to strengthen integrity and accountability in prediction markets, and we welcome the opportunity to work with Rep. Torres and others to reinforce clear, enforceable standards that keep these markets transparent and trusted.”
They continued to explain how their coalition’s members operate U.S.-based platforms and vet every trader who opens an account, in accordance with U.S. regulations.
“Many of the safeguards being discussed are already required under existing law and regulation for U.S. regulated market participants, and they are actively enforced.
“Consistent with current law, offshore, unregistered platforms should not be able to operate in the U.S. or serve U.S. customers without the same safeguards and registrations.”
Other people within the industry have shown support for the bill too, including the CEO of prediction market Kalshi, Tarek Mansour, who took to LinkedIn to say they are supportive of the bill because they already implement it.
Featured Image: Via Coalition for Prediction Markets X page
Coalition for Prediction Markets backs Rep. Ritchie Torres’s Bill against insider trading ReadWrite.
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