hold on there's just too much going on in Congress lmao...
Bans event contracts on terrorism, assassination, war, gaming, illegal activity, election outcomes, and government activities.
Blake Moore (R-UT), co-sponsor Salud Carbajal (D-CA)
Introduced in House, referred to Committee on Agriculture
The bill amends the Commodity Exchange Act to outlaw trading in event-based contracts (like prediction markets) on specified activities. It also lets states opt out of the ban on gaming contracts. Sponsor Rep. Moore serves on the House Ways and Means Committee; the bill was referred to Agriculture, which oversees the CFTC. Being in committee means no floor vote yet.
Introduced Mar 5, 2026
This bill is under review by a committee. The committee holds hearings, gathers testimony from experts and stakeholders, and may propose amendments. If the committee votes to advance it, the bill moves to the full chamber for debate and a vote.
If this becomes law, popular platforms for political betting would have to stop those contracts within 180 days. Betting on government actions, like Federal Reserve decisions, would also be banned. States that want to permit gaming contracts (e.g., on sports outcomes) could pass a law exempting themselves. The CFTC gets power to ban other similar contracts deemed against the public interest.
Supporters Say
Supporters argue that event contracts on terrorism, assassination, war, or elections undermine public trust and can be manipulated by bad actors.
Critics Say
Critics contend that banning these contracts limits market innovation and free speech, and that regulated markets can provide valuable information.
Supporters, including sponsor Rep. Moore, say such contracts commodify violence and democracy. Critics note that prediction markets often forecast events better than polls, and banning them may drive activity offshore. The bill also gives the CFTC broad discretion, which some worry could stifle legitimate hedging or information markets.