(Radio Iowa) – Iowa Congresswoman Ashley Hinson says she’s pushing a bipartisan bill that would stop insider trading on prediction markets. The Republican from Marion says it would bar senior government officials from placing the trades on political events. “Policy decisions, other government actions, which obviously all these classifications would have insider knowledge of. So not only members of Congress, their spouses, dependent children, it would include the president and the vice president as well,” she says.
Hinson says it also covers those working in the executive branch. “Specifically political appointees, including those in what are considered executive schedule roles. So I think it is a pretty good all-encompassing swoop here to get these people included and make sure that they are not engaging in insider trading,” Hinson says.
She says this is a move to send a message about what is acceptable.
“I haven’t seen anything yet that gives me the inclination that anybody has abused this as of yet. But again, we want to make sure that the American people know that we are rooting out waste, fraud, abuse and corruption here in Washington, D-C,” she says. Hinson says if people in government violate this once it is enacted into law, they would have to pay a fine and give up any money that they made.
