51–60 of 116 posts
So they can vote themselves out to do the right thing, and they purposefully allowing themselves to invest in the stock market with insider information. My cynicism tells me they are throwing this bone to divert attention from the stock market loophole
when something you think is bad gets better but not better enough, say "more please"
So they can vote themselves out to do the right thing, and they purposefully allowing themselves to invest in the stock market with insider information. My cynicism tells me they are throwing this bone to divert attention from the stock market loophole
better is always good when something you think is bad gets better but not better enough, say "more please"
Prediction markets have realized that they will lose potential customers if they don't prevent insider trading. Kalshi already has a policy banning politicians from trading. Presumably they understand this, so while I'm glad to see the rule, I wouldn't say it's that self-sacrificing.
Both for Senators and Representatives:
- Term limits (2 consecutive terms max) - No stock market participation in any form during office - No corporate or PAC contributions - Prison for lying to the public or during the course of their work (hearings, media, etc.) - Serious legal consequences for defamation or libel - No special medical/healthcare insurance, accounts or treatment - Pensions only bases on their own contributions, nothing else - No lifetime pensions or healthcare - This one is tough: Consequences for campaign promises not met (part of no lies) - Consequences for shutting down government - Serious consequences for not balancing the budget or driving meaningful reductions that will result in a balanced budget in short order - No media-related jobs for five years after leaving office - No book deals for five years after leaving office - No movie deals for five years after leaving office - No fancy office anything that costs more than your average Ikea/Walmart office furniture - Severe consequences for illicit enrichment; a bartender cannot come out of Congress a multi-millionaire, period.
In other words, like any real job by average citizens. They should not be a privileged and protected class.
Just prediction markets? They should be banned from all trading and active investing, period.
Just prediction markets? They should be banned from all trading and active investing, period.
If we're gonna give this actual attention, we should be focusing on the fact that they should be banned from any form of insider trading or major conflict of interest!
Just prediction markets? They should be banned from all trading and active investing, period.
Exactly! If we're gonna give this actual attention, we should be focusing on the fact that they should be banned from any form of insider trading or major conflict of interest!
I think this in the previous comment undervalue just how many more complicated ways there are for corruption to bubble.
Assume super strict rules. Consider this example to circumvent them: Senator-elect A makes an LLC and invest their money (with some friends) in it (before taking office)
They can’t even talk to the money manager. But the manager can see their actions, and the senator can know their ow investments and work in their favor.