March 5, 2026
Mr. Moore of Utah (for himself and Mr. Carbajal) introduced the following bill; which was referred to the Committee on Agriculture
To amend the Commodity Exchange Act to prohibit event contracts based on terrorism, assassination, war, gaming, illegal activity, election outcomes, government activities, or other activities determined by the Commodity Futures Trading Commission to be contrary to the public interest, and to allow States to exempt themselves from the prohibition on gaming contracts.
Section 1. Short title
This Act may be cited as the Event Contract Enforcement Act
.
Sec. 2. Prohibition on event contracts contrary to the public interest
(a) In general
Section 5c(c)(5)(C) of the Commodity Exchange Act (7 U.S.C. 7a–2(c)(5)(C)) is amended—
(1)
by striking clauses (i) and (ii) and inserting the following:
(i) Event contracts
Subject to clause (ii), it shall be unlawful to list or make available for trading on or through a registered entity an agreement, contract, transaction, or swap in an excluded commodity that is based on an occurrence, the extent of an occurrence, or a contingency (other than a change in the price, rate, value, or level of a commodity described in section 1a(19)(i)) in relation to—
(I)
activity that is unlawful under Federal or State law;
(II)
terrorism;
(III)
assassination;
(IV)
war;
(V)
gaming;
(VI)
the result of any vote in an election (as defined in section 301 of the Federal Election Campaign Act of 1971) held under Federal, State, or local law, including a ballot initiative or referendum;
(VII)
conduct by or in any level or branch of the Federal Government or of any State or local government, including by or in any instrumentality or by any personnel of any level or branch of any such government; or
(VIII)
other similar activity determined by the Commission, by rule or regulation, to be contrary to the public interest.
(ii) Exemption
Clause (i)(V) shall not apply with respect to conduct in a State if the law of the State expressly exempts conduct in the State from the application of such clause.; and
(2)
by adding at the end the following:
(v) Gaming defined
In clause (i), the term gaming means any aspect of a live, simulated, or virtual physical or mental challenge or game of chance.
(b) Effective date
The amendments made by subsection (a) shall take effect on the date that is 180 days after the date of the enactment of this Act.