A lawmaker from North Carolina has put forward a bill called the No Betting on Your Own Race Act. It is meant to stop politicians from using prediction market platforms in ways that could let them profit from the results of their own elections. Cointelegraph reported the bill on October 6, 2026.
Congress will not take up the bill before the 2026 US midterm elections, because it is on recess until after the vote. So no rule against lawmakers betting on their own races will be in place for these midterms.
Several things are still unknown. The report does not say how much support the bill has, whether any lawmaker has actually placed such a bet, or what the final text would cover once Congress returns.
For anyone already holding a perpetual futures position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The bill is about prediction markets and politicians, not crypto derivatives, and it has not been voted on. Funding rates, trading fees and liquidity on these four exchanges are not affected by it.
Source: cointelegraph — Bill aims at stopping US lawmaker bets on their own elections ahead of midterms