Sponsors (8)
The bill strengthens government authority to block and remove wagering tied to sensitive government events—improving national‑security and consumer protections—but at the cost of broad, potentially ambiguous restrictions that could disrupt legitimate risk‑transfer markets, raise compliance costs, and create civil/criminal enforcement risks for businesses and intermediaries.
Financial institutions, prosecutors, and market participants get clearer statutory rules and stronger enforcement tools (definitions of prohibited 'specified events', expanded gambling/racketeering coverage, and AG injunctive authority) to stop event‑based wagering quickly.
Retail and institutional investors and the general public are protected from trading and speculation tied to sensitive federal actions, reducing risks of market manipulation and harmful speculation around national security events.
Taxpayers and insured communities retain coverage for covered federal programs because the bill explicitly exempts certain federal insurance programs (terrorism, flood, crop) from the wagering prohibition.
Financial firms, fintechs, and businesses that develop event‑linked risk products face broad and ambiguous restrictions that could curtail novel risk‑transfer markets and hedging options.
Registered exchanges, brokers, clearinghouses, and online platforms will incur compliance costs and lost revenue from banned products and increased enforcement risk.
Individuals and intermediaries face civil injunctions and expanded criminal exposure that can strip revenue streams and create legal uncertainty without the protections of criminal due process.
Based on analysis of 6 sections of legislative text.
Prohibits placing, accepting, or facilitating wagers and trading of contracts tied to terrorism, assassination, war, or other non‑financial events and adds federal enforcement and regulatory bans.
Introduced March 17, 2026 by Greg Casar · Last progress March 17, 2026
Prohibits placing, accepting, or facilitating wagers and trading contracts tied to terrorism, assassinations, war, or other non‑financial events whose outcomes are controlled or known in advance. It gives the Attorney General authority to sue for injunctive relief, amends federal criminal and gambling statutes and the Commodity Exchange Act to bar listing, clearing, or trading of such event‑linked instruments, and becomes effective 30 days after enactment.