Event Contract Enforcement Act
Rep. Moore Introduces the Event Contract Enforcement Act to Ban Betting on Elections and War
The Event Contract Enforcement Act is currently in the early stages of the legislative process and is being reviewed by the House Committee on Agriculture. It is considered active, though no further committee hearings or votes have been scheduled at this time.
Legislative Progress
Key Points
Impact Analysis
Personal Impact
Life & Work
Companies that operate prediction market platforms or event contract exchanges — such as Kalshi, PredictIt, and others — would see a large portion of their product offerings become illegal. These small and mid-sized financial technology businesses would need to fundamentally restructure their business models within 180 days of enactment, potentially forcing some to shut down entirely.
Activities
Milestones
Sponsor introductory remarks on measure. (CR H2588-2589)
Referred to the House Committee on Agriculture.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
4 articlesBipartisan Congress bill would ban political & sports event contracts
Reps. Blake Moore and Salud Carbajal introduced the Event Contract Enforcement Act, legislation that would require the CFTC to prohibit event contracts tied to terrorism, assassinations, war, gaming, elections and government activities to protect against national security and insider trading risks.
Novig Looks to Operate Prediction Exchange
The Event Contract Enforcement Act would explicitly prohibit certain sensitive contracts, creating regulatory headwinds for operators. The bill targets contracts tied to terrorism, assassination, war, or elections, while leaving sports-related regulation to individual states.
Prediction Markets & Insider Trading Law Topic of White Paper From CRS
H.R. 7840, the Event Contract Enforcement Act, would prohibit CFTC-registered exchanges from listing certain categories of event contracts, including contracts involving conduct by or in any level or branch of the Federal Government or of any State or local government.
Source Information
Document Type
Congressional Bill
Official Title
Event Contract Enforcement Act
Data Sources
Sponsor
Cosponsors
(1)Analysis generated by AI. Always verify with official sources.