Sponsors (2)
The bill prevents trading in contracts tied to violent events and individual deaths to protect dignity and public trust and gives the CFTC authority to enforce those limits, but it increases regulatory discretion and costs for market participants and may reduce some hedging options.
Registered exchanges, clearinghouses, and market participants will be barred from listing or clearing contracts tied to violent events (terrorism, war, assassination), reducing commodification of violence and lowering moral exposure for the public and financial sector.
Exchanges and clearinghouses will be prohibited from listing or clearing contracts that reference an individual’s death, protecting individual privacy and preventing the commodification of deaths.
The Commodity Futures Trading Commission (CFTC) is given an explicit mandate to police the permissible scope of products, improving regulatory clarity and supporting market integrity and consumer confidence.
Limiting permissible contracts tied to unusual real-world events may reduce hedging and risk-transfer options for businesses, investors, and financial intermediaries, potentially increasing market risk and the cost of risk management for end users.
Broad, discretionary CFTC authority to define 'similar activity' could create regulatory uncertainty for product developers and exchanges, chilling innovation and complicating product design and planning.
Exchanges, clearinghouses, and product sponsors will incur compliance, product redesign, and potential litigation costs to halt or modify prohibited products.
Based on analysis of 2 sections of legislative text.
Bars registered exchanges and clearinghouses from listing or clearing excluded-commodity contracts that reference terrorism, assassination, war, or an individual’s death.
Adds a new rule to the Commodity Exchange Act that stops registered exchanges and clearinghouses from listing or clearing contracts tied to certain excluded commodities if those contracts reference or are closely correlated with terrorism, assassination, war, or an individual’s death. Also assigns a short title to the law.
Introduced March 16, 2026 by Mike Levin · Last progress March 16, 2026