Sponsors (2)
The bill protects public dignity and bars trading tied to violent events or individual deaths by giving the CFTC explicit enforcement authority, but that protection comes with broader regulatory discretion that could raise uncertainty, compliance costs, and reduce some risk-management options in markets.
The general public (including victims and consumers) will be less exposed to markets that trade on violent events, reducing moral commodification and reputational harm from such products.
Individual people (and their families) gain protection of privacy and dignity because exchanges are barred from listing contracts tied to an individual’s death, preventing commodification of deaths.
Registered exchanges, clearinghouses, and market participants gain clearer regulatory authority because the CFTC is given an explicit mandate to police the scope of permissible products, supporting market integrity.
Product developers, exchanges, and clearing firms face regulatory uncertainty because the CFTC's broad, discretionary authority to define “similar activity” could leave unclear boundaries for permissible contracts.
Commercial hedgers and other market participants could lose certain niche hedging or risk-transfer options tied to unusual real-world events, potentially increasing market risk or costs for firms and downstream consumers.
Exchanges and clearing firms will incur compliance and potential litigation costs to halt, redesign, or remove prohibited products, which may be passed on to customers.
Based on analysis of 2 sections of legislative text.
Prohibits registered exchanges and clearinghouses from listing or clearing contracts that reference terrorism, assassination, war, or an individual’s death.
Official title: To amend the Commodity Exchange Act to prohibit the listing of contracts relating to war, death, and similar activities.
Introduced March 16, 2026 by Mike Levin · Last progress March 16, 2026
Prohibits futures exchanges, clearinghouses, and other registered entities from listing or clearing event‑linked contracts that reference terrorism, assassination, war, or an individual’s death. The rule adds a new ban under the Commodity Exchange Act to stop trading products that would let people bet on or profit from violent acts or a person’s death, with the Commission authorized to determine the precise scope of covered references.