PREDICT Act
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Summary
The PREDICT Act amends federal ethics law to prohibit certain federal officials and their family members from trading on prediction markets that depend on political events. The bill defines "covered individuals" to include Members of Congress, executive branch officials at senior levels (GS-15 and above), judges, and their spouses and dependent children. Violations result in a 10% fee on the transaction value plus disgorgement of profits, which must be paid from personal funds rather than official allowances, with all penalties published on ethics office websites.
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