hold on there's just too much going on in Congress lmao...
Prohibits trading on political, government, sports, and military prediction markets.
Mr. Raskin introduced it.
In committee, no House vote yet
H.R. 8123, also known as the "STOP Corrupt Bets Act of 2026," aims to amend the Commodity Exchange Act to ban contracts related to political elections, certain government actions (with hedging exceptions), sporting events, and military actions on regulated prediction markets. The bill was introduced by Mr. Raskin and has been referred to the Committee on Agriculture, meaning it is still in the early stages of the legislative process.
Introduced Mar 26, 2026
This bill was introduced in the House of Representatives by Mr. Raskin on March 26, 2026. It has been sent to the House Committee on Agriculture for review. For the bill to become law, it must pass through committee, be voted on by the full House, then pass the Senate, and finally be signed by the President.
If this bill becomes law, platforms regulated under the Commodity Exchange Act would be prohibited from offering contracts that allow people to bet on political elections, sporting events, or military actions. It would also largely restrict trading on government actions, though hedging against commercial risk would still be allowed. Additionally, a government study by the Comptroller General would be launched to investigate prediction markets, focusing on issues like insider trading and the effects on individuals aged 18 to 20, which could lead to further regulations.
Supporters Say
Supporters say this bill is needed to prevent federal regulation from enabling gambling and to preserve market integrity.
Critics Say
The bill text does not present specific criticisms of these prohibitions.
The bill includes a "Sense of Congress" stating that current law already intends to prohibit the conduct targeted by this amendment and that the Commodity Futures Trading Commission should prevent prediction markets from being used for gambling. It also clarifies that this Act does not override state laws regulating gambling. The bill text itself does not present arguments from potential critics of the proposed prohibitions.