BETS OFF Act
Sponsored By: Representative Casar
Introduced
Summary
Bans betting on terrorist acts, assassinations, wars, and other non-financial events tied to government actions. This bill would make it illegal to place, accept, or facilitate wagers on those specified events and would fold that prohibition into federal criminal and financial rules.
Show full summary
- Bettors and platforms: Would bar placing, accepting, or facilitating wagers on specified events. The Attorney General could seek federal injunctive relief against violators.
- Financial markets and exchanges: Would prohibit listing, clearing, or trading any agreement, contract, transaction, or swap tied to a specified event on registered entities.
- Law and enforcement: Would add the banned conduct to federal gambling statutes and to the statutory definition used in federal financial regulation so existing authorities apply.
- Insurance and reinsurance: Would exclude lawful state insurance, certain foreign insurance and reinsurance, and federal programs such as the Terrorism Risk Insurance Program, the National Flood Insurance Program, and the federal crop insurance program.
- Timing: Would take effect 30 days after enactment.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Ban on betting about major events
This bill would ban placing, accepting, or facilitating wagers on certain "specified events." A specified event would include terrorism, assassination, war, or other non-financial events that are government actions, fully controlled by a person, or known in advance. The bill would define "wager," but it would exclude certain insurance and federal insurance programs. It would let the Attorney General sue for injunctions and would amend criminal laws and the exchange rules so registered exchanges could not list, clear, or trade contracts tied to those events. These changes would take effect 30 days after enactment.
Sponsors & CoSponsors
Sponsor
Casar
TX • D
Cosponsors
Amo
RI • D
Sponsored 3/17/2026
Ansari
AZ • D
Sponsored 3/17/2026
Tlaib
MI • D
Sponsored 3/17/2026
Magaziner
RI • D
Sponsored 3/24/2026
Moskowitz
FL • D
Sponsored 3/24/2026
Carson
IN • D
Sponsored 3/25/2026
Roll Call Votes
No roll call votes available for this bill.
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