hold on there's just too much going on in Congress lmao...
Bans wagers on terror, assassinations, wars, and government events.
Senators Chris Murphy and John Hickenlooper introduced the bill.
Introduced in the Senate, referred to committee.
This bill aims to make it illegal to place or accept bets on specific events like acts of terrorism, assassinations, wars, or non-financial government actions. It was introduced by Senators Chris Murphy and John Hickenlooper. Currently, the bill has been referred to the Senate Judiciary Committee for review and discussion, which is an early stage in the legislative process.
Introduced Mar 17, 2026
The BETS OFF Act has been introduced in the Senate and referred to the Committee on the Judiciary. For it to become law, it must pass through this committee, be approved by a full vote in the Senate, then pass the House of Representatives, and finally be signed by the President.
If this bill becomes law, it would be illegal to place or accept wagers on events such as terror attacks, assassinations, wars, or certain government actions that aren't primarily about money or business. The bill also amends several existing federal laws concerning illegal gambling and racketeering to include this new prohibition. Furthermore, it would prevent financial entities from listing or trading agreements or contracts tied to the outcome of these specified events.
Supporters Say
Supporters argue the bill is necessary to prevent profiting from tragic events and to maintain the integrity of government functions.
Critics Say
Critics might argue that the bill could be overly broad in its definitions or limit personal freedoms without clear justification.
While the bill text does not detail specific debates, generally, legislation like this is supported by those who believe it's unethical to financially benefit from sensitive or tragic events. It aims to prevent perverse incentives. Potential criticisms could focus on the scope of 'specified events,' particularly those related to government actions, and whether such restrictions infringe on individual liberties or could have unintended consequences for prediction markets.