Campaign Event Contract Integrity Act
Campaign Betting: Insider Trading Ban for Staffers
This bill is currently in the early stages of the legislative process after being sent to the House Committee on Agriculture for review. It is actively moving forward, but no future meetings or votes have been scheduled yet. There is no companion bill listed for this legislation at this time.
Legislative Progress
While the bill addresses fairness in markets, it currently lacks Republican support and faces a difficult path in a busy election year.
Key Points
- This bill stops people working for political campaigns from using private information to bet on election results. It targets staffers, consultants, and their family members who have access to internal data like secret polls or strategy plans.
- The goal is to prevent insider trading in political betting markets. Currently, someone with access to a candidate's private internal polling could use that knowledge to make money on websites that allow people to bet on who will win an election.
- Betting platforms would be required to set up systems to catch and stop this kind of activity. People who trade large amounts of money would have to tell the platform if they work for a campaign or have access to secret campaign data.
- The Commodity Futures Trading Commission would oversee these rules. If someone is caught breaking the law, they could face fines up to $250,000 or three times the money they made from the trade. They could also be banned from these betting sites forever.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
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.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Campaign Event Contract Integrity Act
Data Sources
Sponsor
Cosponsors
(1)Analysis generated by AI. Always verify with official sources.