US Rep. Seth Moulton Issues Staff Market Trading Ban

SALEM, MA — U.S. Rep. Seth Moulton said his staff will no longer be able to participate in so-called "prediction market" platforms — such as Polymarket and Kalshi — that he said can amount to insider trading.

Moulton's office said he is the first member of Congress to issue the staff ban that also includes holding positions on political, legislative, regulatory, geopolitical outcomes.

The U.S. Senate candidate said the ban was effective as of Wednesday and applies to all staff employed by his congressional office, district staff, legislative staff, communications staff and operations staff.

"Prediction markets have become a playground for corrupt insiders who are able to place bets on things like election outcomes, wars, and even the deaths of public figures," he said in a statement. "This is creating a perverse incentive structure that poses a genuine threat to American society today.

“Congressional staff and the members they work for exist to serve the constituents of the districts they represent, not to profit off of the very policy decisions and world events that we are here to respond to," Moulton said. "My office has not, and will not, engage in these trades that run counter to every principle of a clean, honest government that works for the people. I will always hold myself and my team to the highest ethical standards, and I call on every single American elected official to do the same."