,i #aaith ,,congress #b;d ,session ,h4 ,r4 #hjgf ,,in ,,the ,,house ,,of ,,representatives ,march #be1 #bjbf,ms4 ,budzinski 7for herself1 ,mr4 ,smith of ,nebraska1 and ,mr4 ,magaziner7 introduced the following bill2 which was referred to the ,committee on ,oversight and ,government ,reform1 and in addition to the ,committees on ,house ,administration1 and the ,judiciary1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to amend chapter #aca of title #e1 ,united ,states ,code1 to prohibit covered individuals from trading on prediction markets1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,preventing ,real-time ,exploitation and ,deceptive ,insider ,congressional ,trading ,act or the ,,predict ,act4 #b4 ,restrictions on trading on prediction markets 7a7 ,restrictions ,chapter #aca of title #e1 ,united ,states ,code1 is amended by adding at the end a new subchapter3 ,,iv ,restrictions on trading on prediction markets #acaea4 ,definitions ,in this subchapter3 7#a7 ,covered individual ,the term covered individual means any of the following3 7,a7 ,a ,member of ,congress as defined in section #acaja of this title4 7,b7 ,a dependent child as defined in such section #acaja or a spouse of a ,member of ,congress4 7,c7 ,an individual or entity with fiduciary duties and the authority to enter into or offer to enter into an agreement1 contract1 or transaction with respect to prediction markets for any individual described in subparagraphs 7,a7 or 7,b74 7,d7 ,an officer or employee of the ,congress as defined in such section #acaja4 7,e7 ,the ,president4 7,f7 ,the ,vice ,president4 7,g7 ,a political appointee4 7,h7 ,each officer or employee in the executive branch1 including a special ,government employee1 as defined in section #bjb of title #ah1 and any officer or employee of an independent agency1 who occupies a position classified above ,,gs-#ae of the ,general ,schedule or1 in the case of positions not under the ,general ,schedule1 for which the rate of basic pay is equal to or greater than #abj percent of the minimum rate of basic pay payable for ,,gs-#ae of the ,general ,schedule2 each member of a uniformed service whose pay grade is at or in excess of ,o-#g under section #bja of title #cg2 and each officer or employee in any other position determined by the ,director of the ,office of ,government ,ethics to be of equal classification4 7,i7 ,a judicial officer as defined in section #acaja of this title4 7,j7 ,a judicial employee as defined in section #acaja of this title4 7#b7 ,independent agency ,the term independent agency has the meaning given the term independent establishment as defined in section #ajd of this title4 7#c7 ,political appointee ,the term political appointee means an individual-- 7,a7 occupying a position described under sections #ecab through #ecaf of this title 7relating to the ,executive ,schedule72 7,b7 serving under a noncareer appointment in the ,senior ,executive ,service1 as defined under paragraph 7#g7 of section #cacb7;a7 of this title2 or 7,c7 occupying a position in the executive branch of the ,government of a confidential or policy-determining character under schedule ,c of subpart ,c of part #bac of title #e1 ,code of ,federal ,regulations4 7#d7 ,supervising ethics office ,the term supervising ethics office-- 7,a7 has the meaning given the term in section #acaja of this title2 and 7,b7 in the case of an independent agency1 means the ,office of ,government ,ethics4 #acaeb4 ,trading on prediction markets 7a7 ,conduct during ,federal service ,no covered individual may enter into1 or offer to enter into an agreement1 contract1 or transaction that provides for any purchase1 sale1 payment1 or delivery that is dependent on the occurrence1 nonoccurrence1 or the extent of the occurrence of a specific political event4 7b7 ,interpretative guidance ,the supervising ethics office shall issue interpretive guidance on any relevant term not defined in this subchapter4 #acaec4 ,penalties 7a7 ,in general 7#a7 ,penalties ,any covered individual who violates the restrictions in section #acaeb of this title shall1 at the direction of the supervising ethics office-- 7,a7 pay a fee equal to ten percent of the value of the agreement1 contract1 or transaction in violation2 and 7,b7 disgorge the profits of any agreement1 contract1 or transaction that violates the provisions of such section #acaeb4 7#b7 ,payment of penalty to ,treasury ,a penalty imposed under paragraph 7#a77;,b7 shall be payable into the ,treasury4 7b7 ,payment restrictions ,a covered individual may not pay any of the penalties under this section from the following sources3 7#a7 ,the ,members' ,representational ,allowance4 7#b7 ,the ,senators' ,official ,personnel and ,office ,expense ,account4 7#c7 ,any contribution 7as defined in section #cja7h7 of the ,federal ,election ,campaign ,act of #aiga 7#eb ,u4,s4,c4 #cjaja7h777 accepted as a candidate1 and any other donation received as support for activities of the individual as a holder of ,federal office4 7#d7 ,any other source of funds1 other than a salary1 available to such individual through employment or service in the ,federal ,government4 7c7 ,publication ,each supervising ethics office shall publish on a publicly available website a description of-- 7#a7 each fine assessed by the supervising ethics office pursuant to this section2 7#b7 the reason why each such fine was assessed2 and 7#c7 the result of each assessment4 4 7b7 ,table of contents ,the table of contents for chapter #aca of title #e1 ,united ,states ,code1 is amended by adding at the end the following3 ,subchapter ,,iv4 ,restrictions on trading on prediction markets #acaea4 ,definitions4 #acaeb4 ,trading on prediction markets4 #acaec4 ,penalties4