Budzinski Statement on Insider Trading in Venezuela Operation, Calls for Passage of PREDICT Act

Today, Congresswoman Nikki Budzinski (IL-13) released the following statement after the Department of Justice charged a U.S. Army soldier with unlawfully using confidential government information for personal gain.

According to federal prosecutors, the soldier used sensitive, classified information to place wagers on the prediction market platform Polymarket. The individual allegedly participated in the planning and execution of a U.S. military operation – known as “Operation Absolute Resolve” – to capture Venezuelan leader Nicolás Maduro, and then used advance knowledge of that operation to profit financially.

“This incident underscores exactly why I introduced the PREDICT Act. No Member of Congress, the President, or military official should be allowed to profit from insider information. Public service must be about serving the American people – not personal gain. Beyond being blatantly unfair, these recent developments make clear that such conduct poses a serious threat to our national security. This moment only heightens the urgency to pass the PREDICT Act,” said Budzinski.

On March 25, Budzinski and Representative Adrian Smith (R-NE) introduced the Preventing Real-time Exploitation and Deceptive Insider Congressional Trading Act (PREDICT Act), the first bipartisan legislation of its kind to prohibit members of the military, Members of Congress, their spouses, and dependent children; the President and Vice President; employees of the federal judiciary; and political appointees, including individuals serving in Executive Schedule positions, from trading on the outcomes of political events, policy decisions, and other government actions on prediction markets.

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