Svmuu News: New York State Assemblyman Ritchie Torres formally introduced a legislative proposal titled the “Financial Prediction Markets Public Integrity Act of 2026” on Friday. The bill, which has garnered the support of 30 Democrats, including former House Speaker Nancy Pelosi, aims to prohibit elected officials, political appointees, executive branch employees, and congressional staff from using material information obtained through their official duties to place bets on government policies, government actions, or political outcomes in prediction markets. This follows an incident in which a Polymarket user profited $400,000 by betting that former Venezuelan President Nicolás Maduro would step down by the end of this month, sparking market concerns about insider trading. Ritchie Torres stated that government insiders must be prohibited from profiting through prediction markets to prevent individuals from having an incentive to push policies for their own personal gain. The bill is currently seeking support from Republicans. (The Block)