Barrett, Kagan Review Supreme Court Prediction-Market Rules as 2023 Ethics Code Faces New Scrutiny
Updated
Updated · CNN · Jul 22
Barrett, Kagan Review Supreme Court Prediction-Market Rules as 2023 Ethics Code Faces New Scrutiny
3 articles · Updated · CNN · Jul 22
Summary
Barrett and Kagan told senators the Supreme Court will review whether its existing ethics rules adequately cover prediction-market trading by justices, clerks and staff, with Barrett saying, “We don’t want loopholes.”
The push centers on sites such as Kalshi and Polymarket, where users can bet on court-related outcomes, raising concerns that court insiders could profit from nonpublic information even though no such allegations have surfaced.
Sen. Chris Van Hollen urged Chief Justice John Roberts to explicitly ban court personnel from the markets, arguing the current 2023 ethics code lacks enforcement and may not clearly bar all participation.
The pressure comes as Congress, some state officials and the Senate have moved to curb prediction-market trading by government employees, and a former Trump White House teleprompter operator is under federal investigation over Kalshi trades.
The issue could soon reach the justices directly: states and the CFTC are fighting over who regulates prediction markets, and a New Jersey appeal could put that question before the Supreme Court by August.