MIL USHOR-2b Engine

Source: United States House of Representatives – Congresswoman Nancy Pelosi Representing the 12th District of California

Chicago, Ill. – The Obama Foundation today announced the Nancy Pelosi Garden Pavilion at the Obama Presidential Center, celebrating Pelosi alongside other icons and everyday heroes who will be honored in named spaces at the Obama Presidential Center, thanks to generous gifts from benefactors. The Nancy Pelosi Garden Pavilion is made possible through a generous donation by philanthropist and business leader Ron Conway.

This naming of the pavilion for Nancy Pelosi, the first woman who served as Speaker of the United States House of Representatives, reflects the Foundation’s continued commitment to building a campus that honors the significant contributions of the visionary and courageous individuals “on whose shoulders we stand.” Grounded in the belief that change takes all of us, the Obama Presidential Center brings together culture, community and civic engagement for visitors and neighbors to come together and be inspired to change their world through action. 

Read coverage of the announcement from MS NOW: How the Obama presidential library plans to honor Nancy Pelosi [By Mychael Schnell, 5/12/26]

“President Barack Obama’s mission throughout his entire life in public service has been training leaders for the future — and now he continues that focus at the Obama Presidential Center in an unsurpassed way,” Speaker Emerita Nancy Pelosi said. “Having a Garden Pavilion with my name on it at the Obama Center is deeply celebratory for me because of the esteem I have always had for President Obama, having seen firsthand his exceptional leadership when I served as Speaker of the House and Democratic Leader during the Obama presidency.”

“Many thanks to Ron and Gayle Conway and their family for their generosity in naming this Garden Pavilion. Their naming a garden makes perfect sense because a garden is a place of growth and renewal, stemming from their values-based roots,” Pelosi continued. “The Conway family are angels and cultivators who have enabled innovators to grow and blossom through their brilliance in sharing ideas and recognition. It is my hope that this Garden Pavilion will inspire future leaders to honor and carry forth those values.”

“For almost four decades, Nancy Pelosi served the American people and worked to make our country better,” said President Obama. “No one was more skilled at bringing people together and getting legislation passed – and I will always be grateful for her support of the Affordable Care Act. That’s why I’m proud to name the Garden Pavilion at the Obama Presidential Center after Nancy. It’s a way to honor her trailblazing leadership, and inspire visitors to follow in her footsteps.” 

“In our nation’s entire history, no President and Speaker of the House got more done for our country working together than President Barack Obama and Speaker Nancy Pelosi,” added Conway. “Gayle and I are deeply honored to support naming the gardens at the Obama Center after Speaker Pelosi. It’s a fitting tribute to her legacy in Congress and to her historic partnership with President Obama.”

“Nancy Pelosi is one of the foremost leaders of our time, blazing a trail for all women in politics, showing people of any party or background the power of increased involvement of women in our democracy,” said Valerie Jarrett, CEO of the Obama Foundation. “As we honor those who make change and inspire others to take action, I can think of no one who has modeled this more than Speaker Emerita Pelosi.”

The Garden Pavilion will anchor the eastern border of the Fruit & Vegetable Garden on the Center’s campus. The structure will include a Garden Classroom, a garden workroom, and public restrooms.

The Obama Presidential Center opens to the public on June 19, 2026. Named spaces will serve as lasting tributes to the “giants” of history, reminding every visitor that they, too, have the power to leave a lasting mark on the world.

Source: United States House of Representatives – Congressman Clay Higgins (R-LA)

WASHINGTON, D.C. – Congressmen Clay Higgins (R-LA) and Troy Carter (D-LA) penned a letter to U.S. Trade Representative Ambassador Jamieson Greer urging a Section 301 investigation into unfair practices affecting trade in seafood products. Read the full letter here. 

Foreign seafood importers engaging in unfair trade practices, such as labor abuses and false labeling, have contributed to a significant decline in the domestic seafood industry. A Section 301 investigation offers an important tool for correcting trade imbalances and ensuring fair competition across the seafood sector. 

The Members wrote, “Consistent with the Executive Order and your stated intent, we respectfully request that the Office of the United States Trade Representative (“USTR”) initiate a broad Section 301 investigation into unfair acts, policies, and practices affecting trade in seafood and seafood products… a Section 301 investigation encompassing a broad spectrum of unfair practices, including false labeling and species designations, the abuse of banned antibiotics and fungicides in aquaculture, export and production subsidies, environmental harm, structural excess capacity, labor abuses, and permissive standards with respect to gear usage, would allow the Administration to effectively leverage access to our market to improve conditions overseas and level the playing field for the American seafood industry within its own domestic market.” 

“Because of the breadth and complexity of these challenges, we encourage the USTR to pursue a seafood-specific Section 301 investigation that examines all unfair acts, policies, and practices across the full seafood supply chain from countries including, but not limited to: Argentina, Canada, Chile, China, Ecuador, Egypt, Iceland, India, Indonesia, Japan, Mexico, the Netherlands, Norway, Peru, Spain, Thailand, and Vietnam, ” The Members continued.

The letter is supported by several seafood industry associations, including the Louisiana Farm Bureau Federation, the Southern Shrimp Alliance, and the Catfish Farmers of America. 

Richard Fontenot, President of Louisiana Farm Bureau, said, “Time and again I hear from Louisiana Farm Bureau members who have a simple request of their lawmakers: help us do business on a level playing field. Congressmen Carter and Congressman Higgins clearly have heard that plea and are raising their voices for us in a big way. We appreciate them calling on USTR to initiate a Section 301 investigation on seafood and we join them in this request to give our crawfish farmers, shrimpers, and other seafood producers a fighting chance.”

Blake Price, Director of the Southern Shrimp Alliance, said, “The U.S. shrimp industry is grateful to Congressmen Clay Higgins and Troy Carter for spearheading a Congressional request to the United States Trade Representative to launch a Section 301 investigation — one that can comprehensively address the unfair acts, policies, and practices harming American seafood producers. “We ask the Trump Administration to seize this opportunity to address unfair trade practices, eliminate unsafe imports, and level the longstanding unfair playing field for American producers. Under fair market conditions, American shrimpers can sustainably harvest tens of millions of additional pounds of shrimp each year — preserving a way of life for fishing families and boosting coastal economies from Texas to North Carolina.” 

Source: United States House of Representatives – Congressman Chuck Fleischmann (R-TN)

Washington, DC – U.S. Representative Chuck Fleischmann (TN-03) on Tuesday discussed the Department of War’s budget with Secretary of War Pete Hegseth and Chairman of the Joint Chiefs of Staff Dan Caine during the House Appropriations Defense Subcommittee Hearing. Congressman Fleischmann highlighted the importance of modernizing our nation’s nuclear deterrence and his work on the House Energy and Water Appropriations Committee. You can find Congressman Fleischmann’s questions below:

Video Link

“Congressman Fleischmann:

To everyone on this panel, thank you for the job well done. Thank you for what you’re doing for our country. This is truly incredible. So let me start with that. As chairman of the energy and water subcommittee, I’m going to take a little bit different approach. I’m deeply involved in the recapitalization and modernization of our nation’s nuclear deterrent, as we are recapitalizing the entire strategic nuclear arsenal. I remain concerned about the lack of options lower on the escalation ladder available to the president in theater. Non-strategic nuclear weapons have remained essential to the credibility of our extended deterrent commitment to NATO. I’ve got a couple of questions to ask, but I’m going to ask General Keane and Secretary Hegseth, what is your assessment of our non-strategic nuclear capability, gaps in the Indo-Pacific and elsewhere? What additional tactical nuclear capabilities beyond SLCM-N, and should we consider that would be most useful for reassuring allies, deterring our adversaries, and providing combatant commands and useful options in the worst-case event of a conflict?

Secretary Hegseth:

We are, as you know, making a $2 billion investment. And you mentioned SLCM-N on FY 26. So, we’re investing in that. But I would say that a lot of that discussion would be classified, given all plans in the Indo-Pacific. But Admiral Paparo, I would say there’s no Cocom commander We have regular feedback with on what dilemmas we might need to create for an adversary. Then admiral Paparo and IndoPacom, to include everything that would deter any level of aggression. So, I think there’s a lot of sensitivity on this topic that doesn’t lend itself to this environment, but very much so. We’re looking at all options.

Congressman Fleischmann:

Thank you. And I would also commend Admiral Paparo. I mean they’re doing incredible work. Yessir, General?

General Caine:

Sir, I was just acknowledging the Secretary’s comment about what forum we’re in here today. You know, all three and I appreciate the congress’s leadership. All three legs of the triad are undergoing modernization, and all require that. And we’re grateful for that assistance from the Congress. It’s a bedrock to deterrence around the world, and one that we want to maintain our focus on. I’ll probably leave it at that and can come back if there’s follow up questions.

Congressman Fleischmann:

Thank you. And I would assure you, gentlemen, that in the energy and water bill which funds this, we will certainly address that in a very robust way, as I think the administration has. So, I thank you all. As most of you know, in that bill, I’m probably the nation’s strongest proponent, supporter of nuclear power in Congress. A nuclear propulsion is long provided a great United States Navy with significant operational advantages. There’s been tremendous progress within your department accelerating the adoption of nuclear energy as a means of providing resilient and long duration power generation for military installations and forward operations. I’m excited about the army’s Janus program. And the air force just announced the first two air bases to receive microreactors. 

My question, gentlemen, can you walk us through how the department is thinking about the role of nuclear power across the joint force, including naval propulsion and the use of advanced reactors for base and expeditionary power? What operational advantage did you see these technologies providing, particularly in the Indo-Pacific, and what can we be doing to accelerate and expand these efforts?

Secretary Hegseth:

In both incredibly important capabilities, microreactors and propulsion. Whether you’re looking at survivability, sustainability of, basing and mobility within basing, and the expectation in the homeland or abroad that the lights are on and we can operate even if it’s a contested environment. And then there’s just no doubt, you can’t beat nuclear propulsion, especially as we’ve refined it over time. So, I appreciate your efforts. And I think in this department, you’ll find a friend in ensuring we maximize that.

Congressman Fleischmann:

Thank you, Mr. Secretary. General?

General Caine:

Sir, I’ll just say that the joint staff has collaborated and continues to do so with all the combatant commands, the services, the secretary’s team in office on OSW and the congress to make sure that we’re looking at the range of energy requirements that we’re going to have. And that we move from, frankly, in some cases, a reactive posture, no reaction to your nuclear point, but to a more proactive stance around how we’re going to ensure energy and sustainability in a range of situations that we could face. We appreciate the chance to comment.

Congressman Fleischmann:

Thank you, General. And again, once again, I begin with profound thanks. I will end that way. To all of you. I yield back.”

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Source: United States House of Representatives – Congressman Dan Newhouse (4th District of Washington)

Headline: Newhouse/Daines "Build More Hydro" Bill Signed Into Law

Press Release
For Immediate Release: May 12, 2026
Contact: Juan Ayala, (202) 713-7750

WASHINGTON, D.C. – Today, Rep. Dan Newhouse (WA-04) announced that his “Build More Hydro” bill has been signed into law by President Trump. The bill, S.1020, companion legislation to Newhouse’s H.R. 2072, allows the Federal Energy Regulatory Commission (FERC) to approve six-year extensions for hydropower projects licensed before 2020. 

“Our Nation needs more energy, and I am pleased President Trump has signed into law S.1020, the Senate companion of my “Build More Hydro” bill in the House,” said Rep. Newhouse. “This allows hydroelectric dams with their FERC license additional time to commence construction, eventually adding over 2.5 GW of reliable, clean, baseload power. We need to get every available megawatt of power on the grid to meet our growing energy demand, and this new law gets us one step closer to that goal. I thank Senator Daines for his hard work moving this bill unanimously through Senate and for being a champion of hydroelectric dams.”

“Today is a great day for Montana and the nation,” said Senator Steve Daines (R-MT). “America must meet the rise in energy demand, and the Build More Hydro bill will revive critical hydro projects and increase our domestic energy production. Thank you Senator Fetterman and Representative Newhouse for fighting with me to get this bill to the President’s desk. I’m grateful that President Trump and his administration strongly support Made-In-America energy, and I look forward to seeing the impact this will have across the country.”

Background 

Rep. Newhouse introduced the “Build More Hydro” bill as companion legislation alongside Senator Daines’ S. 1020, in 2025.

On July 9, 2025, S.1020 passed the Senate by unanimous consent.

On April 21, 2026, this legislation passed the House with a vote of 394-14.

The Build More Hydro bill would extend commence construction deadlines for critical hydropower projects nationwide and increase American energy production. 

Since the introduction of S.1020, approximately 100MW of hydropower has been put on hold with an additional 36MW forced into limbo by the end of the year because of congressional inaction. Hydropower supplies baseload electricity to over 30 million homes, provides 96% of utility-scale energy storage, and remains vital to flood control, water storage, irrigation, and grid reliability services. 

The Build More Hydro bill was supported by the Pacific Northwest Waterways Association, Northwest River Partners, Inland Ports and Navigation Group, Port of Lewiston, Tri-City Development Council, Northwest Public Power Association, Washington Association of Wheat Growers, The National Association of Wheat Growers, The National Hydropower Association, Rye Development, and The American Public Power Association. 

Full bill text can be found here.

Source: United States House of Representatives – Congressman Dan Newhouse (4th District of Washington)

Headline: Newhouse Hosts Central Washington Energy Summit Featuring State Legislators, Industry Leaders

Press Release 
For Immediate Release: May 11, 2026
Contact: Juan Ayala, (202) 713-7750

Moses Lake, Washington – Today, Rep. Dan Newhouse (WA-04) hosted dozens of energy leaders, state legislators, and industry stakeholders to discuss the future of energy in Washington State. With panels focusing on nuclear, hydropower, and the Lower Snake River Dams, participants and speakers talked about the importance of meeting rising energy demand and what it will take to get there responsibly.  

The Energy Summit was kicked off with Welcome Remarks & the Pledge of Allegiance from Dr. Sara Thompson Tweedy, President, Big Bend Community College. 

Following Dr. Tweedy’s remarks, the Summit had its first panel titled, “Impact of the Climate Commitment Act.”  

Todd Myers, vice president for research at the Washington Policy Center moderated and panelists included: 

• State Representative Alex Ybarra, Washington’s 13th Legislative District
• State Representative Tom Dent, Washington’s 13th Legislative District,
• State Representative Stephanie Barnard, Washington’s 8th Legislative District
• State Senator Matt Boehnke, Washington’s 8th Legislative District

The next panel was “The Future of Nuclear in Washington State.”  

State Representative Stephanie Barnard of Washington’s 8th Legislative District moderated and panelists included: 

• Tracy Yount, Strategy & Portfolio Development Manager, Energy Northwest
• Corey Hines, Director, Nuclear Science Center, Washington State University
• Sara Decker, Senior Director of Federal Government Affairs, X-Energy

The next panel, “The Importance of the Columbia River System to Our Way of Life” was moderated by Kurt Miller, CEO and Executive Director, Northwest Public Power Association with panelists:   

• Molly Simpson, Commissioner and President of the Board, Douglas County PUD            
• Larry Schaapman Commissioner and President of the Board, Grant County PUD    
• Kelly Allen Commissioner and President of the Board, Chelan County PUD  
• Sheri Nelson Executive Director, Washington Rural Electric Cooperative Association

Congressman Newhouse presented keynote remarks focusing on the state of energy in Central Washington. Newhouse stressed the importance of the Fourth District’s energy potential and how the nation must meet this moment regarding artificial intelligence. 

Following Congressman Newhouse’s address, the next panel focused on Central Washington’s dams called: “Defending Our Lower Snake River Dams.” 

Katie Paxon, Legislative Assistant for Rep. Dan Newhouse moderated, and panelists included: 

• Michelle Hennings, Executive Director, Washington Association of Wheat Growers
• Clark Mather Executive Director, Northwest River Partners          
• Neil Maunu, Executive Director, Pacific Northwest Waterways Association
• Scott Simms, CEO and Executive Director, Public Power Council

The final panel of the Summit centered on Moses Lake called “Development and the Need for More Energy.” 

Katie Paxon again moderated and panelists included: 

• Rosendo Alvarado, Moses Lake Plant Manager, Sila Nanotechnologies
• Nicholas Flanders, CEO, twelve
• Andy Lapsa, CEO, Stoke Space
• Dustin Swartz, Mayor, City of Moses Lake

Source: United States House of Representatives – Congresswoman Robin Kelly IL

Rep. Kelly also renounces Rep. Kiggans as co-chair of Bipartisan Maternity Care Caucus

Source: United States House of Representatives – Congressman Raja Krishnamoorthi (8th District of Illinois)

WEST PALM BEACH, FL — During a hearing with Epstein survivors and advocates today, Congressman Raja Krishnamoorthi demanded the release of additional Treasury Department records tied to Jeffrey Epstein’s trafficking network and reiterated his opposition to any potential clemency for Ghislaine Maxwell.

During the hearing, “Survivors Fight for Justice: Exposing Epstein’s Crimes in Palm Beach and Across the World,” Krishnamoorthi pressed witnesses on unreleased Suspicious Activity Reports tied to Epstein’s financial activity, additional DOJ evidence that has yet to be publicly disclosed, and accountability for individuals connected to Epstein’s abuse network who have not been charged.

“The Senate Finance Committee has found Epstein made wire transfers that are detailed in these Suspicious Activity Reports — SARs reports — to the tune of $1.5 billion, with a ‘B,’ and include the names of women and girls he may have trafficked, as well as the names of his potential clients,” Krishnamoorthi said.

“If we’re serious about following the money, I believe that these SARs reports must be disclosed by the U.S. Treasury Department now. Immediately. Today.”

Krishnamoorthi also forcefully rejected any potential clemency for Maxwell.

“Maxwell hasn’t shown any guilt, hasn’t shown any remorse, hasn’t shown any ounce of accountability for what she did,” Krishnamoorthi said. “I’ve introduced a House resolution condemning clemency for Ghislaine Maxwell. I hope everyone here will join me because we have to do everything in our power to block a pardon for Ghislaine Maxwell.”

Addressing President Trump directly, Krishnamoorthi added: “Donald Trump, I’m calling on you to listen to survivors, release all of the documents, unredact all these people, prosecute the rest of these people, and investigate the remaining enablers.”

“In addition, Ghislaine Maxwell should never ever ever receive clemency,” Krishnamoorthi continued. “That monster should not be given pardon.”

The hearing featured testimony from Epstein survivors and advocates, including Danielle Bensky, Courtney Wild, Jean-Lisa Jones, Lauren Hersh, and Spencer Kuvin.

Footage of the Congressman’s question line is available here.

Source: United States House of Representatives – Congressman Steve Cohen (TN-09)

WASHINGTON – Congressman Steve Cohen (TN-9), a longtime advocate of reasonable federal law and policy about marijuana, will join representatives of the roughly 40 groups collectively known as the Cannabis Unity Coalition at a press conference on Wednesday, May 13.

The groups include the National Organization for the Reform of Marijuana Laws (NORML), the Drug Policy Alliance (DPA), Students for Sensible Drug Policy (SSDP), and the National Cannabis Industry Association (NCIA), among others

What: The Cannabis Unity Coalition Day of Action Press Conference

Who: Congressman Cohen, representatives of the Cannabis Unity Coalition and others will speak

When: Wednesday, May 13, at 10 a.m.

Where: The House Press Triangle outside the U.S. Capitol

Please RSVP to Congressman Cohen’s communications director at Bartholomew.Sullivan@mail.house.gov

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Source: United States House of Representatives – Congresswoman Haley Stevens (MI-11)

WASHINGTON, D.C. – In response to the highest inflation numbers in nearly three years, Michigan Congresswoman Haley Stevens issued the following statement:

“Donald Trump promised to lower costs on day one. Instead, Michigan families are still getting squeezed: from rising grocery bills to higher prices at the gas pump to the soaring cost of housing. At the same time, his administration is spending billions of taxpayer dollars on a reckless war with Iran that is driving prices even higher.

“Michiganders are tired of the chaos, the broken promises, and political stunts. While Trump jets off to China this week with his billionaire friends in tow, Michigan families are being left behind.

“I’ll keep fighting every single day to make sure Michigan has a seat at the table in Congress and that Michigan workers come first.”

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Source: United States House of Representatives – Representative Sean Casten (IL-06)

May 12, 2026

Washington, D.C. — U.S. Representatives Sean Casten (IL-06) and Ted Lieu (CA-36) led 54 House Democrats in an effort to urge the Department of Justice (DOJ) to pursue suspected insider trading on prediction market platforms more aggressively.

“Trading on confidential, non-public information is illegal in traditional financial markets when it involves fraud, deception, or breach of duty. Failure to enforce these laws in the context of prediction markets risks creating a regulatory gap that rewards bad actors, incentivizes misconduct, and undermines confidence in the integrity of U.S. markets,” the lawmakers wrote. “…We therefore urge the DOJ to continue to take decisive action against individuals who exploit prediction markets using nonpublic information for personal gain, and to rigorously enforce corporate compliance by ensuring that platforms implement effective safeguards to detect and prevent illegal activity.”

Prediction markets have grown rapidly in scope and visibility, allowing users to wager on outcomes ranging from elections and sporting events to military actions, geopolitical developments, and major cultural events. As these markets become more prevalent, so too does the risk that individuals with access to confidential government, corporate, or event-related information may use that information for personal profit.

Recent events have underscored the need for stronger enforcement. There have been several high-profile incidents of suspected insider trading on prediction market platforms, including on both Polymarket and Kalshi. These incidents include suspiciously timed trades predicting U.S. military actions against Iran, the assassination of Iran’s Supreme Leader, performances at major cultural events, the outcomes of congressional elections, and the winner of the Nobel Peace Prize.

“The DOJ is poised to play an important role in addressing insider trading on prediction markets platforms, while U.S. financial regulators continue to divert their resources towards litigating against states and leave these abuses largely unaddressed,” the lawmakers continued.

On April 23, 2026, the DOJ charged a U.S. servicemember with wire fraud for allegedly using classified information to make $400,000 from bets on Polymarket related to the U.S. military operation to remove Venezuela’s leader. This case highlights the significant national security, market integrity, and public trust risks posed when individuals allegedly exploit nonpublic information to trade on real-world events.

In addition to Reps. Casten and Lieu, the letter was signed by Reps. Gabe Amo, Yassamin Ansari, Joyce Beatty, Janelle Bynum, Greg Casar, Ed Case, Maxine Dexter, Bill Foster, Valerie Foushee, Laura Friedman, Jesús García, Sylvia Garcia, Dan Goldman, Adelita Grijalva, Josh Harder, Jim Himes, Steven Horsford, Jared Huffman, Sara Jacobs, Pramila Jayapal, Hank Johnson, Raja Krishnamoorthi, Mike Levin, Zoe Lofgren, Stephen Lynch, Seth Magaziner, Sarah McBride, Betty McCollum, Kristen McDonald Rivet, Robert Menendez, Grace Meng, Seth Moulton, Kevin Mullin, Eleanor Holmes Norton, Chris Pappas, Scott Peters, Chellie Pingree, Mark Pocan, Ayanna Pressley, Mike Quigley, Deborah Ross, Raul Ruiz, Andrea Salinas, Hillary Scholten, Brad Sherman, Dina Titus, Rashida Tlaib, Ritchie Torres, Juan Vargas, Bonnie Watson Coleman, George Whitesides, and Nikema Williams.

Text of the letter can be found below. A copy of the letter can be found here.

Dear Acting Attorney General Blanche:

We write to express serious concerns about potential insider trading on prediction market platforms. Federal anti-fraud and market manipulation laws apply to these platforms, just as they do to traditional financial markets. We urge the Department of Justice (DOJ) to further prioritize criminal investigations and civil actions targeting abuses in prediction markets to protect U.S. financial markets, investors, and the public from fraudulent conduct.

Recent suspected violations implicate significant geopolitical, sporting, and cultural events and risk creating perverse incentives for persons with access to confidential or classified information. For example, one anonymous trader has made nearly $1 million from dozens of suspiciously timed and accurate bets on military actions the U.S. has taken against Iran. Another trader with the username “Magamyman” made more than $550,000 from placing bets that Iran’s Supreme Leader would be removed, just before his assassination. In addition, ahead of the Super Bowl LX halftime show, unusually large trades were placed on Polymarket and Kalshi predicting that Lady Gaga and Ricky Martin would perform before there was any public confirmation. One social media user estimated that these suspected insiders made up to $3 million across multiple platforms. Lastly, the Nobel Institute is investigating a bet placed by a newly-created account on Venezuelan opposition leader María Machado winning the Nobel Peace Prize hours before the announcement, resulting in a profit of more than $50,000.

Trading on confidential, non-public information is illegal in traditional financial markets when it involves fraud, deception, or breach of duty. Failure to enforce these laws in the context of prediction markets risks creating a regulatory gap that rewards bad actors, incentivizes misconduct, and undermines confidence in the integrity of U.S. markets.

The DOJ has pursued several insider trading cases, including in coordination with U.S. financial market regulators, and criminally prosecuted individuals under federal wire fraud statutes. These cases include charging a Coinbase employee for tipping off others with insider information in order to trade cryptocurrencies, prosecuting Biotech’s CEO for misleading investors and engaging in insider trading in connection with Covid-19 and HIV drugs, and bringing charges against individuals who participated in an alleged insider trading scheme involving cancer treatment companies. The DOJ is poised to play an important role in addressing insider trading on prediction markets platforms, while U.S. financial regulators continue to divert their resources towards litigating against states and leave these abuses largely unaddressed.

U.S. Attorney for the Southern District of New York Jay Clayton has stated that just “because it’s a prediction market, [it] doesn’t insulate you from fraud.” We appreciate that the DOJ recently took action against a U.S. soldier for allegedly using classified information to make profitable prediction market bets related to the U.S. mission that captured Venezuela’s leader.

At the same time, reports that the DOJ dropped its criminal investigation into Polymarket in July 2025, regarding whether the platform had been illegally serving U.S. customers, raise concerns about consistency in enforcement. Polymarket had previously been banned from the U.S. for operating as an unregistered platform and paid a $1.4 million civil penalty under a 2022 settlement agreement. Taken together, these developments risk undermining confidence in the DOJ’s commitment to also holding companies accountable for breaking the law.

We understand that this Administration is increasingly focused on gains in the U.S. stock market. That performance depends on integrity and accountability. We therefore urge the DOJ to continue to take decisive action against individuals who exploit prediction markets using nonpublic information for personal gain, and to rigorously enforce corporate compliance by ensuring that platforms implement effective safeguards to detect and prevent illegal activity.

Sincerely,

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