Rahm Emanuel Proposes Banning Federal Employees from Prediction Market Betting

The former Chicago mayor and potential 2028 presidential candidate says the move is part of a broader effort to address corruption in Washington.

Mar. 23, 2026 at 2:18pm

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Rahm Emanuel, a former White House chief of staff and Chicago mayor who is considering a 2028 presidential run, is proposing a ban on federal employees and their families from betting on prediction markets. Emanuel says the measure is part of a broader push to address what he calls a "culture of corruption" in Washington, citing concerns that some with inside government information may have profited from bets made ahead of recent military actions.

Why it matters

Prediction markets have grown in popularity in recent years, raising concerns about the potential for insider trading and abuse, especially among government officials with access to sensitive information. Emanuel's proposal aims to address these issues and restore public trust in the political process.

The details

Emanuel's plan would apply the betting ban across the executive, legislative, and judicial branches of the federal government. He says he would establish a Justice Department division to investigate such betting activity. The former Chicago mayor argues that Washington has become "desensitized to corruption" and needs a "good power washing" to return to ethical norms.

  • Emanuel shared the proposal with the Associated Press on March 23, 2026.

The players

Rahm Emanuel

A former White House chief of staff under President Barack Obama, two-term mayor of Chicago, and U.S. ambassador to Japan under President Joe Biden, Emanuel is considering a run for the 2028 Democratic presidential nomination.

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What they’re saying

“Somebody clearly with inside information inside the government was making bets, made money. You have fellow Americans, what I call the true 1%, the people that volunteer to serve the interests of this country and its national security, they're putting their lives on the line and you've got somebody else sitting in his or her basement placing bets on it.”

— Rahm Emanuel

What’s next

If elected president, Emanuel says he would work with Congress to enact the prediction market betting ban, but would consider executive action if necessary.

The takeaway

Emanuel's proposal to ban federal employees from betting on prediction markets is part of a broader effort to address perceived corruption in Washington and restore public trust in the political process. The measure aims to prevent potential insider trading and abuse of sensitive government information.