Sponsors (3)
The bill strengthens federal authority to block and litigate against wagers and platforms tied to a specified event—reducing manipulation and some systemic risks—while restricting legal betting markets and increasing enforcement, compliance costs, and regulatory uncertainty for insurers, platforms, and businesses.
All Americans gain stronger federal legal tools (Attorney General injunction authority and Treasury enforcement) to stop wagers and block platforms that facilitate betting on the specified event.
Everyday investors and market participants face lower systemic risk and reduced potential for market manipulation because clearinghouses and exchanges are barred from listing or clearing derivatives tied to the specified event.
State insurance regulators keep the authority to define lawful insurable interest for traditional insurance products, preserving state control over core insurance definitions and regulation.
The bill expands federal civil and criminal enforcement and prosecutorial reach (DoJ and criminal statute references), increasing litigation risk and legal exposure for businesses and individuals.
People who place or accept event-based wagers and businesses that offer them would lose the ability to legally bet on the specified event, shrinking markets and economic opportunities tied to those products.
Excluding specified-event contracts from exchanges reduces available hedging tools, which could raise costs and risk for small businesses and consumers who relied on those derivatives.
Based on analysis of 12 sections of legislative text.
Bans wagers and the listing/clearing of contracts tied to terrorism, assassinations, war, or similar non‑economic events and allows the Attorney General to seek injunctions.
Introduced March 17, 2026 by Christopher Murphy · Last progress March 17, 2026
Bans wagers and the creation or listing of financial products tied to terrorism, assassinations, war, or other non‑economic events whose outcomes are controlled or known in advance. It defines covered “specified events,” excludes ordinary insurance programs, gives the Attorney General the power to seek federal injunctions against violators, amends several federal gambling and commodities statutes to block online betting and exchange listing/clearing of contracts tied to such events, and becomes effective 30 days after enactment.