hold on there's just too much going on in Congress lmao...
Bans event contracts on war, death, terrorism, and assassination.
Senator Schiff (D-CA), Committee on Agriculture, Nutrition, and Forestry
Introduced in Senate, referred to committee.
This bill would stop financial exchanges from offering contracts that allow betting on tragedies like war or assassination. Senator Adam Schiff, a Democrat from California, introduced it. It's now in the Senate Agriculture Committee, which oversees commodity trading. The term 'registered entity' means any exchange regulated by the Commodity Futures Trading Commission (CFTC).
Introduced Mar 10, 2026
This bill has been introduced in its chamber of Congress. It has been assigned a bill number and referred to a committee for review. Most bills never advance past this stage. The committee may hold hearings, gather expert testimony, and amend the bill before deciding whether to send it to the full chamber for a vote.
Exchanges like Kalshi or PredictIt would be unable to offer markets on topics like 'will a war start?' or 'assassination of a leader.' The bill targets 'excluded commodities' (events like wars, natural disasters, etc.). The CFTC would have power to define 'similar activities,' so the ban could expand to other tragic events. This doesn't affect regular stock or commodity trading.
Supporters Say
Supporters say betting on death and war is immoral and exploitative.
Critics Say
Critics argue it restricts freedom to hedge or predict global events.
Supporters include lawmakers who see event contracts on tragedies as profiting from human suffering. Critics, often free-market advocates, say such contracts can provide valuable information (like predicting conflict) and allow hedging. The bill may face pushback from prediction market firms and some economists.