Ohio Lawmakers Push to Ban Public Officials from Prediction Market Betting
COLUMBUS, Ohio — A new Ohio bill aims to prohibit public officials and state employees from participating in prediction markets, where users bet on future events. The legislation, introduced by Democratic Rep. Sean Brennan of Parma, seeks to prevent conflicts of interest and maintain public trust in government.
Key Details of House Bill 887
- Introduced by: Rep. Sean Brennan (D-Parma)
- Status: Currently under review by the House General Government Committee
- Prohibitions: Public officials cannot trade, facilitate, or disclose insider information related to prediction markets
- Exclusions: Does not apply to licensed sports betting platforms
“Ohioans deserve confidence that public officials are acting in their best interest, not gambling on future events,” Brennan said in a statement. “As these markets grow, we must ensure no one exploits government knowledge for personal gain.”
Growing National Concerns
The Ohio proposal follows a similar U.S. Senate resolution passed last month, which unanimously barred senators and staff from prediction market betting. That measure came after a U.S. soldier was charged with using classified intel to wager on geopolitical events, including Venezuela’s political turmoil.
Sen. Bernie Moreno (R-Ohio), who sponsored the Senate ban, called it a necessary step: “Taxpayer-funded officials shouldn’t gamble on sensitive information.”
What’s at Stake?
Prediction markets allow users to bet on outcomes like elections, economic shifts, or global conflicts. Critics argue they create ethical risks, especially for officials with access to non-public data. Brennan’s bill would:
- Ban public employees from holding prediction market accounts
- Block them from trading or assisting others in trading
- Prohibit sharing confidential information for betting purposes
Bipartisan Support for Ethics Reform
The push reflects broader efforts to modernize ethics laws amid advancing financial technologies. Senate Minority Leader Chuck Schumer (D-N.Y.) called the Senate’s move a “no-brainer” and urged other branches of government to follow suit.
Ohio’s bill now awaits committee debate. If passed, it would mark one of the nation’s strictest state-level bans on prediction market participation by government workers.
Read the full bill: HB 887 Text
— Reported by Nexio News
