Bans what's sometimes called 'event contract' betting — wagers placed on whether specific events will occur, like a terrorist attack, an assassination, a war, a government official's action, or the outcome of a government decision. Traditional insurance for insurable risks and standard commodity contracts are exempt. The bill closes a regulatory gap that has let some trading platforms offer bets on non-financial events (prediction markets on elections, wars, and policy outcomes have drawn scrutiny). The Attorney General could sue platforms to shut them down, and existing federal gambling laws would be updated to cover the prohibited wagers.
Details
- Congress
- 119th
- Chamber
- Senate
- Status
- summarized
- Action
- Introduced in Senate
- Action Date
- 2026-03-17
- Date Added
- 2026-04-21
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