Rep. McDonald Rivet Bans Herself and Staff from Betting on Prediction Markets

WASHINGTON— Today, Congresswoman Kristen McDonald Rivet (MI-08) announced a new office policy banning all employees of her congressional office, including herself, from betting using prediction markets.

Prediction markets are platforms that allow users to bet money on current events, including politics, business, foreign affairs, sports, and even the weather. Recent reports have exposed stories of politicians, political campaign staff, members of the military, and other likely government officials winning large profits on prediction markets by using their insider information to make informed bets. 

“Too many public officials have gotten rich betting on insider information from their jobs. Not in my office,” said Congresswoman McDonald Rivet. “People in mid-Michigan deserve to know we work for them, not our own wallets. That’s why no one on my team – including me – will bet on prediction markets.” 

Congresswoman McDonald Rivet’s new office policy on prediction markets is the following: All full-time and part-time employees, fellows, and interns working for the Office of Rep. Kristen McDonald Rivet (MI-08) are prohibited from participating in prediction markets. This prohibition applies to, but is not limited to: 1) Online prediction markets, platforms, and exchanges 2) App-based prediction markets, platforms, and exchanges. This policy does not limit an employee's ability to gamble in lawful, non-political activities, such as sports, in their personal capacity.

This is Congresswoman McDonald Rivet’s latest effort to combat corruption in Washington on all fronts. Last year, the Congresswoman outlined her plan to combat government corruption, including reforms for Members of Congress, the White House, and the Supreme Court. She also supports a congressional stock trading ban and has urged the U.S. Department of Justice to prioritize investigating insider trading on prediction markets.