Sponsors (8)
The bill tightens and clarifies prohibitions on wagering for the sake of national-security and clearer enforcement, but it does so at the cost of criminalizing some participant conduct, chilling novel event-linked risk-transfer markets, creating compliance burdens for regulators and businesses, and raising potential enforcement and litigation costs.
All Americans (taxpayers) are better protected because the bill limits wagers on the specified event, reducing incentives for manipulation, undue influence, or corrupting bets.
The Department of Justice gains a civil injunctive enforcement tool so federal authorities can quickly seek court orders to stop prohibited wagering activity.
State regulators, platforms, and financial firms have clearer legal treatment because the bill clarifies that bets on specified non-financial events are treated as wagers, reducing regulatory ambiguity for those actors.
People who place or accept wagers on the specified event (taxpayers and bettors) may be criminalized, removing lawful betting options and exposing ordinary participants to criminal liability.
Governments, businesses, and purchasers seeking event-linked risk transfer (including novel insurance-like products tied to geopolitical or political events) could lose access to those products or see them constrained.
Betting platforms, payment processors, and intermediaries face legal risk and potential lost revenue because facilitating or processing prohibited wagers could trigger enforcement even when facilitation is inadvertent.
Based on analysis of 6 sections of legislative text.
Makes it illegal to place, accept, or facilitate wagers or to list/trade financial contracts tied to terrorism, assassinations, wars, and similar non‑economic events; DOJ can seek injunctions.
Introduced March 17, 2026 by Greg Casar · Last progress March 17, 2026
Bans wagering on acts of terrorism, assassinations, wars, and other events whose main character is non‑economic and either controlled or known in advance by a person or taken by a government actor. It also bars listing, clearing, or trading contracts, swaps, indices, or instruments tied to those events on registered markets, lets the Attorney General seek injunctions against violations, and takes effect 30 days after enactment.