Prevents certain government officials from trading on prediction markets based on political events.
The PREDICT Act prohibits Members of Congress, their dependents, and other specified officials from engaging in transactions on prediction markets tied to political events. These officials include political appointees, certain executive branch employees, and members of the uniformed services. The bill also mandates that supervising ethics offices publish details of fines related to these restrictions on their websites. Penalties for violations include a fee equal to ten percent of the transaction value and disgorgement of profits.
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