Wisconsin Representative Bryan Steil has introduced the "Preventing Legislators from Speculating Act," aiming to ban Congress members, their spouses, and dependent children from engaging in policy-related betting on prediction market platforms like Kalshi and Polymarket. The proposed legislation would impose a fine of $2,000 or 10% of the bet amount for violations. While the bill does not prevent lawmakers from using these platforms for non-political bets, it specifically targets wagers on government policies, actions, and political outcomes, including election results. If enacted, the law would take effect 180 days post-signature by the President.