Support the BETS OFF Act to Stop Insider Trading on Prediction Markets
Online prediction markets — platforms where users bet real money on the outcomes of political and world events — have exploded in popularity. Sites like Kalshi and Polymarket now allow wagers on everything from election results to military operations and assassinations. While speculative in nature, these platforms have attracted serious concern: there are currently no federal laws preventing government officials from placing bets on events they control or have advance knowledge of.
That loophole is now under scrutiny. Investigators and journalists have flagged suspicious activity on these platforms, including a Polymarket user who reportedly won nearly $1 million by correctly predicting unannounced U.S. military operations in Iran at an extraordinary 93% success rate — raising the alarming possibility that political or military insiders are profiting from decisions that affect national security and human lives. Without federal oversight, these platforms remain largely self-regulated and, critics warn, "ripe for rigging."
Congress has introduced a bipartisan solution: the Banning Event Trading on Sensitive Operations and Federal Functions Act, known as the BETS OFF Act (H.R. 7955 / S. 4115). The legislation would prohibit wagering on political and governmental events by anyone who knows or controls the outcome, and would extend federal anti-gambling enforcement to cover these modern prediction market platforms. It represents a common-sense guardrail against the corruption of public office for private gain.
The integrity of government decision-making — from military strategy to policy choices — should never be compromised by the prospect of personal profit. Urge your representatives to support the BETS OFF Act and close this dangerous loophole before it can be further exploited.
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Live Call Script
Hello, I am an assistant calling on behalf of a constituent, {{first_name}} {{last_name}} from {{city}}, {{state}} zip code {{zip_code}}. This call is to urge {{representative_name}} to support the BETS OFF Act — H.R. 7955 in the House and S. 4115 in the Senate. There is growing concern about the use of prediction market platforms like Kalshi and Polymarket to bet on political and military events. Currently, no federal law prevents government insiders from placing wagers on decisions they control or have advance knowledge of — and there is evidence suggesting this may already be occurring. The BETS OFF Act would close that loophole by prohibiting wagers from anyone who knows or influences the outcome of these events, and would bring these platforms under federal oversight. Please cosponsor and support this bill. No one should be able to profit personally from decisions that affect national security or our democracy.
Voicemail Version
I am calling on behalf of {{first_name}} {{last_name}}, a constituent from {{city}}, {{state}} {{zip_code}}. This message is to urge {{representative_name}} to support the BETS OFF Act — H.R. 7955 in the House and S. 4115 in the Senate. This bill would stop government insiders from betting on political and military events they control or have foreknowledge of, and would bring prediction market platforms under federal oversight. Please cosponsor and support this legislation. You may contact me at {{phone_number}} to discuss further.