A new bill would ban lawmakers in Congress from placing bets on prediction markets related to public policy issues and elections that they could be in a position to profit from by using insider information.

The Stop Lawmakers From Predicting Act was introduced Thursday by House Administration Committee Chairman Bryan Steil, R-Wis., which would ban members of Congress as well as their spouses and dependent children from placing a wager on a prediction market on topics that the lawmaker may have inside information on.

The ban would cover wagers on the occurrence, nonoccurence or the extent of the occurrence of specific government policies and actions, a political outcome or any other event which came to the attention of a covered individual as a direct or indirect result of the lawmaker’s service in Congress.

“The American people deserve to know their Member of Congress is not profiting off insider information,” Steil said. “This legislation is critical to restoring the public’s trust in their elected officials. Lawmakers should be writing policy, not wagering on its outcome.”

SENATE QUIETLY BANS LAWMAKERS FROM BETTING ON PREDICTION MARKETS

Rep. Bryan Steil, R-Wis., chairs the Committee on House Administration and introduced the Stop Lawmakers From Predicting Act. (Andrew Harnik/Getty Images)

Steil’s bill would punish violators of the law precluding lawmakers from placing political and policy wagers on prediction markets with a fee equal to $2,000 or 10% of the value of the prohibited transaction, whichever is greater, and the net gain from the transaction.

The bill would also prohibit lawmakers from using their Members’ Representational Allowance, Senate personnel and office expense account, or political contributions or donations to pay the fine.

Lawmakers who resign from office or retire without paying the fine could be referred to the Justice Department for civil enforcement if the bill were to become law.

BLOCKCHAIN ANALYSTS SAY TRADERS MAY HAVE USED INSIDER INFORMATION TO PROFIT ON IRAN CONFLICT BETS

The Senate previously took steps to ban lawmakers from betting on prediction markets through a chamber rule change. (Demetrius Freeman/The Washington Post via Getty Images)

Steil’s introduction of the prediction market ban for lawmakers comes after his panel, the Committee on House Administration, advanced the Stop Insider Trading Act to the House floor in January, which focused on insider trading in the stock market.

It also follows an incident in March in which blockchain analysts identified suspected insiders who placed suspiciously timed bets on prediction markets related to the Iran conflict, including markets related to the U.S. striking Iran as well as the death of Ayatollah Ali Khamenei. 

The bets generated significant profits and may have been placed using insider information.

MEMBERS OF CONGRESS USING ONLINE PREDICTION MARKETS? DON’T BET ON IT

Certain prediction market bets related to strikes on Iran and the death of Iranian Supreme Leader Ali Khamenei were suspected of being placed with inside information. (Office of the Supreme Leader of Iran via Getty Images)

The Senate in April passed a resolution brought forward by Sen. Bernie Moreno, R-Ohio, that changed the upper chamber’s internal rules to ban lawmakers and their staff members from placing bets in prediction markets. Leading prediction markets Kalshi and Polymarket expressed support for the effort at the time.

A broader bipartisan bill aimed at regulating prediction markets has also been introduced in the Senate by Sens. Dave McCormick, R-Pa., and Kirsten Gillibrand, D-N.Y. Their Prediction Market Act would also crack down on insider trading in prediction markets while also establishing regulatory frameworks to protect customers and retail investors.

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The House bill introduced by Steil that focuses on keeping lawmakers and their families from placing political and policy-related bets on prediction markets may be considered by the House Administration Committee. It would need to pass the House and Senate, then be signed by President Donald Trump to become law.

The offshore specialist is confident of further growth despite events in the Middle East having disrupted some projects

Offshore engineering group Tekmar has increased revenue and narrowed losses amid a record level of work.

The County Durham-based cable protection specialist issued unaudited interim results which show a 31% rise in revenue to £16.2m across the six months to the end of March, as operating losses fell from £2.3m in the first half of 2025 to £877,000. Losses after tax in the same period was £1.1m, compared with £2.7m.

Bosses at the Newton Aycliffe firm said there had been higher orders during the half year with a current book of £30.1m set to help second half revenue and profits. And while they warned of uncertainty in the market caused by conflict in the Middle East, Tekmar told investors that trading momentum was expected to continue and lead to improved full year 2026 numbers.

CEO Richard Turner said: “The business performed well in the first half of this year, delivering a material improvement in year-on-year profitability consistent with our guidance. We are encouraged by the continued progress we are making in delivering on the Project Aurora strategic plan.

“The reorganisation and refocus of the ‘front end’ of our business combined with improved commercial effectiveness has enabled the group to operate with a record level of work, increased utilisation, improved visibility and a stronger balance sheet. The ongoing impact of events in the Middle East has had some disruption to projects and supply chain in the region.

“Despite this, the board anticipates strong revenue and profit delivery in the second half as we continue to build our improved revenue visibility into FY27. This momentum, together with the healthy pipeline we see ahead of us, supports our confidence in delivering sustained, profitable growth and enhanced value for shareholders.”

Growth came across Tekmar’s asset protection technology and offshore energy services divisions with revenue rises of 30% and 52% respectively. Gains in offshore energy services were below managers’ expectations given low revenue in 2025 with war in the Middle East said to have exacerbated delays to project starts.

Tekmar has been carrying out a transformation plan – Project Aurora – since its 2025 financial year. That plan is intended to create a larger and more diversified business, with the recent growth in orders pointed to as success.

In the last year, work worth more than £20m has come from three European offshore wind projects which will deliver a bulk of revenue beyond the 2026 financial year. Directors also pointed to “high quality” oil and gas projects secured over the last year and encouraging progress in marine infrastructure revenues including two important contracts secured in the first half supporting ports and harbour infrastructure projects.

It forms part of a £15.3m investment in new buses by Transport for Wales

Transport for Wales (TfW) has invested in 30 new buses serving its TrawCymru long distance network. TrawsCymru spans 13 routes across Wales and was created in 2012 to connect communities where rail links are limited.

Some of the new buses are in operation with the majority expected to be in service next month. The Welsh Government, through its transport body TfW, invested £15.3m on 61 vehicles in its 2025/26 financial year.

Following legislation passed earlier this year, TfW will be responsible for the planning of services across Wales through a new bus franchising model. This will see operators bidding for contracts to provide services, aligned with rail services, on bundles of routes identified by TfW. The first franchises will be awarded in south-west Wales next year. The all Wales franchise model is scheduled to be completed with north Wales in 2030.

Around three quarters of public transport journeys in Wales are made by bus.

The 61 new vehicles procured by the Welsh Government also include buses for other services, including Fflecsi, the on-demand transport that operates in various locations across Wales. It has also supplied some new buses to Powys as part of the mid Wales ‘bridge to franchising’ programme where TfW are supporting local authorities to recontract their bus services in the run up to franchising. TrawCymru now has a fleet of 54 buses.

Deputy Transport Minister, Mark Hooper, said: “Transport plays a key role in supporting economic growth by helping people access work, education, and other services.“Simplified fares, more frequent services, connectivity with other bus services and newer vehicles are all part of this service.

“I am really excited to be building on Wales’ existing transport connections with a fleet of new, modern, accessible vehicles designed for comfort and sustainability and I look forward to seeing Welsh communities benefit from these enhanced services.”

Lee Robinson, executive director for regional transport and integration at TfW, said: “TrawsCymru services are vital for communities across Wales, and we’re pleased to introduce these new buses to the network. They will deliver more comfortable, higher-quality journeys for our customers, while supporting a shift from private car use to public transport.

“Crucially, they will also help strengthen access to essential services, including healthcare, education, leisure and employment, opening up greater opportunities for communities across the country.”

On the impact of bus franchising, speaking earlier this year chief executive of TfW, James Price, said: “I think it’s a once-in-a-generation chance to build a bus network that truly reflects the needs of Wales; urban and rural, coast and countryside, young and old, and a network that’s reliable, affordable, flexible and easy to use. To do that, we want to take the best of the private, public and third sectors and combine it as part of a coherent and thought-through proposition for the whole of Wales.”

He said that buses, trains, trams, active travel routes and cars should “come together not in competition, but coherently as one.”

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The under strain car maker is said to be discussing commitments to its Sunderland operation

Car maker Nissan is said to be in advanced talks with the Government over financial support for its Sunderland operation.

Global news service Reuters has reported the Japanese manufacturer is discussing backing in return for commitments to long term investment in its Wearside plant. Grants, tax breaks and subsidies are said to be on the table in exchange for protection of jobs.

The news follows a recent announcement by Nissan that it is looking to partner with Chinese brand Chery – the maker of brands such as Jaecoo – to build its models at Sunderland. It could see Chery vehicles roll off the factory’s production Line One, which was paused earlier this year amid significant restructuring across Nissan.

Such a deal is set against widespread cost saving measures at Nissan, which is closing a number of factories globally and shedding thousands of jobs, including some in Europe. The efforts are in response to hefty losses and intense competition from global rivals.

Nissan’s Sunderland plant employs 6,000 people and is widely seen to be among the most productive in Nissan’s worldwide stable. It has received significant investment in recent years, including spending to support production of the new generation electric Leaf, which began late last year, and a much wider multibillion-pound vision to make the factory a flagship site for electric vehicle making through use of renewable energy and nearby battery production.

However, earlier this year it emerged that Nissan had decided not to produce drivetrains at the nearby Jatco factory, which was announced in early 2025 as the result of a £48m investment plan including £12m of funding from the Automotive Transformation Fund. About 80% of the Jatco facility’s capacity was to be given over to Nissan products, to be used in the building of electric models.

In recent weeks, car makers and MPs have called for the Government to bring forward a review of the Zero Emission Vehicle mandate which legally require rising sales of electric vehicles from manufacturers. Under the rules introduced in 2024 before being relaxed last year, car and van makers must make EVs 80% of the cars they sell by 2030, rising to 100% by 2035.

Nissan did not comment directly on the report of talks with the Government. But in a statement, a spokesperson said: “We are proud of our history in the UK including our manufacturing operations at our Sunderland Plant. We have a strong and collaborative relationship with the UK Government and look forward to continuing to work together moving forward.”

A Government spokesperson said: “Nissan is an important investor and long‑standing partner in the North East and the UK, and we continue to work closely with the company to support jobs, drive growth and secure the future of the automotive sector. We are taking significant action to back British carmakers and protect jobs, including £4bn of capital and R&D funding for zero emission vehicle manufacturing, lowering electricity bills for manufacturers and launching a £2bn Electric Car Grant supporting drivers to save up to £3,750 off the cost of a new EV.

“We’re committed to the ZEV Mandate and we’ve always said we’ll review it to ensure we’re taking a pragmatic and balanced approach that supports British industry and continues to drive investment.”