Amendment of Municipal Code Section 2-156-070 prohibiting use or disclosure of confidential information by current or former City official or employee for prediction markets or event-based contracts

Votes › Ethics and Government Oversight › 43rd Ward: Timothy R. Knudsen

• Record number: SO2026-0025003
• Type: Ordinance; category: Municipal Code Amendments
• Status: Final
• Sponsor: Timothy R. Knudsen (43rd Ward)
• Committee: Committee on Ethics and Government Oversight
• Introduction Date: May 20, 2026
• Final Action Date: Jul 15, 2026
• Official record: Office of the City Clerk

Roll call: Passed Jul 15, 2026

49 yea, 0 nay. On motion of Alderperson Martin, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed. Voted at the City Council meeting of Jul 15, 2026.

Yea (49): Daniel La Spata (1), Brian Hopkins (2), Pat Dowell (3), Lamont J. Robinson (4), Desmon C. Yancy (5), William E. Hall (6), Gregory I. Mitchell (7), Michelle A. Harris (8), Anthony Beale (9), Peter Chico (10), Nicole T. Lee (11), Julia M. Ramirez (12), Marty Quinn (13), Jeylú B. Gutiérrez (14), Raymond A. Lopez (15), Stephanie D. Coleman (16), David H. Moore (17), Derrick G. Curtis (18), Matthew J. O'Shea (19), Jeanette B. Taylor (20), Ronnie L. Mosley (21), Michael D. Rodriguez (22), Silvana Tabares (23), Monique L. Scott (24), Byron Sigcho-López (25), Jessica L. Fuentes (26), Walter R. Burnett (27), Jason C. Ervin (28), Chris Taliaferro (29), Ruth Cruz (30), Felix Cardona Jr. (31), Scott Waguespack (32), Rossana Rodríguez Sánchez (33), William Conway (34), Anthony J. Quezada (35), Gilbert Villegas (36), Nicholas Sposato (38), Samantha Nugent (39), Andre Vasquez Jr. (40), Anthony V. Napolitano (41), Brendan Reilly (42), Timothy R. Knudsen (43), Bennett R. Lawson (44), James M. Gardiner (45), Angela Clay (46), Matthew J. Martin (47), Leni Manaa-Hoppenworth (48), Maria E. Hadden (49), Debra L. Silverstein (50)

Not voting (1): Emma Mitts (37)

Plain-language summary

Written by AI (claude-opus-5-5) from the ordinance text only: SO2026-0025003 Final.pdf. AI can make mistakes; the official document always wins.

This ordinance updates Chicago's ethics rule on confidential information. It makes clear that current and former City officials and employees cannot use or share confidential or non-public information to take part in prediction markets or event contracts, or to help someone else do so. This applies even if the person does not end up making money.

• Amends Section 2-156-070 of the Chicago Municipal Code on use or disclosure of confidential information.
• Current and former City officials and employees may not use or share confidential or non-public information to participate in prediction markets or event contracts.
• It is also not allowed to use such information to help another person participate in these markets or contracts.
• The rule applies whether or not the person ultimately profits.
• The ordinance says it is meant to clarify existing law, not change it, and takes effect upon passage and publication.

Who: Current and former City of Chicago officials and employees, including those of the board and the inspector general, are affected.

Timeline

• Jan 1, 1900: Recommended to Pass, Committee on Ethics and Government Oversight. The matter was recommended to Pass by controlling legislative body.
• May 20, 2026: Referred, City Council. The matter was Referred to Committee.
• Jul 7, 2026: Substituted
• Jul 15, 2026: Passed, City Council (49 yea, 0 nay), at the City Council meeting. On motion of Alderperson Martin, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed.

Documents

• SO2026-0025003 Final.pdf (Legislation)
• W43 - Prediction Markets.pdf (Legislation)

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