The Vermont Progressive Party has adopted a new internal policy prohibiting members from participating in political betting or prediction markets, with violations potentially resulting in removal from the party or its leadership roles.
The party announced this week that its Coordinating Committee approved the policy during a special meeting on Wednesday. The new internal rule, titled “Prohibition on Political Betting,” bars members from engaging in betting on political outcomes.
“This includes, but is not limited to, wagering on elections, candidates, public policy decisions, or any politically related events through platforms such as Polymarket or similar services,” the statement read.
Political betting, also known more generally as prediction markets, allows individuals to trade on the outcomes of elections or other political events. Participants buy and sell shares tied to specific outcomes, with prices reflecting the market’s assessment of each outcome’s probability. Payouts are determined by whether those outcomes occur.
These markets have grown rapidly in recent years. A New York Times report last month found that nearly $12 billion was traded on major prediction platforms in a single month and raised concerns that such activity can involve insider knowledge and influence how elections and other events are perceived.
The party said engaging in such activity creates conflicts of interest, undermines public trust, and is inconsistent with its commitment to ethical political engagement. Violations of the new rule may result in disciplinary action, including removal from party roles or membership.
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