Rep. Raskin Introduces the STOP Corrupt Bets Act to Ban Betting on Elections and Sports
The STOP Corrupt Bets Act of 2026 is currently in the early stages of the legislative process. It was recently sent to the House Committee on Agriculture for review. There are no upcoming votes scheduled at this time.
Part of: story →Companion bill: Sen. Merkley Introduces Bill to Ban Betting on Elections and Sporting Events →While there is concern about election integrity, the bill faces a tough path in a divided Congress where some see these markets as useful tools for predicting the future.
Businesses that currently use prediction markets to hedge against government policy changes would retain access under the commercial hedging exception. However, the CFTC would need to define what counts as legitimate hedging, creating uncertainty about which contracts remain available. Prediction market companies themselves would face major business model disruptions.
“The prohibition under clause (i) with respect to any matter described in clause (ii)(II) shall not apply to an agreement, contract, transaction, or swap that is used for hedging or mitigating commercial risk, as the Commission may determine by rule or regulation.”
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.
No votes have been recorded for this legislation yet.
The STOP Corrupt Bets Act aims to eliminate high-stakes wagering on governmental actions and elections. While analysts view it as 'dead on arrival' in a divided Congress, it draws a sharp contrast with the Trump administration’s more permissive stance toward the prediction market industry.
The STOP Corrupt Bets Act would prohibit CFTC-registered entities from listing event contracts involving political elections, government actions, sporting events, or military actions. Sponsors cite concerns over insider trading and the potential for bad actors to manipulate government actions.
Document Type
Congressional Bill
Official Title
STOP Corrupt Bets Act of 2026
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