PANews reported on March 26 that, according to The Block, U.S. Representatives Adrian Smith and Nikki Budzinski introduced a bipartisan bill called the PREDICT Act, which aims to prohibit federal officials and their families from betting on political or policy events such as elections, legislation, and government actions in prediction markets. The bill covers members of Congress, the president, vice president, politically appointed officials, and senior federal employees. Those who violate pricing regulations will be subject to a civil penalty of 10% of the contract amount and must forfeit all related profits, with the funds going to the U.S. Treasury.