Sponsors (5)
The bill increases transparency and reduces conflicts of interest in event-contract trading by banning trades for covered officials, accelerating disclosures, and strengthening enforcement and cross-border oversight, while imposing compliance costs, privacy intrusions, and potential legal challenges for officials and market participants.
Federal officials (President, Vice President, Members of Congress, and covered executive-branch reporting officials) would be barred from trading in event contracts and required to disclose purchases/sales on a faster timetable, reducing conflicts of interest and improving transparency for taxpayers and the public.
Market oversight would be strengthened by directing the CFTC to limit use of material nonpublic information for event contracts and by requiring foreign trading venues to report violations and face possible CFTC registration revocation, improving cross-border enforcement and market integrity for market participants and taxpayers.
The bill creates enforcement tools—civil penalties and Department of Justice/CFTC enforcement avenues—to deter illegal trading in event contracts, which can lower corruption-related harms and protect public trust.
Financial institutions and foreign boards of trade would face new compliance and reporting burdens related to foreign-venue reporting and CFTC rules, potentially raising costs or limiting market access for U.S. participants.
Covered individuals (federal filers) and their families would have to disclose sensitive event-contract trades publicly, increasing privacy intrusions and administrative burden on filers.
Agencies would incur additional administrative, processing, and enforcement costs to implement faster reporting and oversight requirements, which could increase taxpayer-funded expenses.
Based on analysis of 6 sections of legislative text.
Introduced March 5, 2026 by Jeff Merkley · Last progress March 5, 2026
Prohibits the President, Vice President, Members of Congress, and certain senior executive branch officials from buying, selling, or exchanging "event contracts" (prediction-market style contracts tied to future events). It creates new disclosure and timely transaction-reporting rules for covered federal filers, requires foreign boards of trade to report violations quarterly, gives the Attorney General civil enforcement authority and monetary penalties, and directs the Commodity Futures Trading Commission (CFTC) to write rules limiting use of material nonpublic information in event contracts and to allow markets to block certain traders when in the public interest.