The US Senate passed S. Res. 708 to prohibit senators and their staff from using prediction markets.
According to Decrypt, the resolution “became effective immediately upon passage.” That means it took effect right away once the Senate approved it, not after a waiting period.
Decrypt reports that the rule applies broadly to both senators and staff, and that it is written into the resolution itself. In other words, it is not just guidance. It is a ban.
The source text does not spell out enforcement steps, exemptions, or what counts as a “prediction market” under the resolution’s language. For now, Decrypt’s reporting centers on the immediate start date and the coverage of senators and staff.