H.Res. 1248 — Amending the Rules of the House of Representatives to prohibit Members, officers, and employees of the House of Representatives from participating in prediction markets in certain cases, and for other purposes.

This section establishes a prohibition in House Rule XXIII, cl. 22, on Members, Delegates, Resident Commissioners, officers, and employees of the House entering into, or offering to enter into, any agreement, contract, swap, or transaction involving an excluded commodity under the Commodity Exchange Act (i.e., one dependent on the occurrence, nonoccurrence, or extent of a specific event or contingency, such as prediction market contracts). The prohibition does not apply to insurance for which the insured holds a lawful insurable interest or lawful sports wagers (defined as staking something of value on a sporting event outcome, including any portion or aspect thereof).

This section expresses the sense of the House of Representatives that the executive branch and judicial branch should establish restrictions similar to those added to the Rules of the House under section 1 relating to participation in prediction markets.