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119-hr-8123119th CongressWALLET

STOP Corrupt Bets Act of 2026

Sponsored By: Representative Raskin, Jamie [D-MD-8]

Introduced

Summary

Prohibiting trading of prediction-based contracts on registered markets. This bill would bar registered entities from listing or clearing agreements, contracts, swaps, or transactions tied to political elections, actions by the executive, legislative, or judicial branches, sporting events, or military actions, and it explicitly covers related indexes, measures, values, data, and contingencies. It creates a narrow hedging exception for contracts tied to government actions when the Commodity Futures Trading Commission defines them as hedges to mitigate commercial risk.

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  • Registered entities would not be able to list or clear contracts linked to the specified matters, including indexes or data that measure occurrences or their extent.
  • The hedging carve-out is limited to government actions and would be defined by the Commodity Futures Trading Commission through rulemaking.
  • Traders and platforms that operate on registered exchanges or clearinghouses would lose the ability to trade these prediction-style contracts on those venues.
  • The Government Accountability Office must publicly report within 60 days on prediction markets, including insider trading, impacts on ages 18 to 20, other prediction markets not covered by the bill, and ways to address illegal foreign and domestic markets.
  • The bill clarifies it does not override or preempt state gambling or gaming laws.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Ban on event-linked trading contracts

If enacted, this bill would bar registered exchanges and clearinghouses from listing or clearing contracts tied to four types of events. The banned event types are political elections or contests; actions by the U.S. executive, legislative, or judicial branches (with a narrow hedging exception the CFTC would define); sporting events; and military actions by the U.S. or foreign countries. The ban would also cover indexes, measures, values, data, occurrences, extents, or contingencies based on those events. The bill would direct the CFTC to prohibit availability for clearing or trading of any such non-hedging contracts. It would not preempt state gambling or gaming laws. The bill would also require the GAO, within 60 days of enactment, to study prediction markets and illegal acts in them and to publicly report findings to Congress.

Sponsors & CoSponsors

Sponsor

Raskin, Jamie [D-MD-8]

MD • D

Cosponsors

  • Rep. Ansari, Yassamin [D-AZ-3]

    AZ • D

    Sponsored 10/15/2026

  • Rep. Foushee, Valerie P. [D-NC-4]

    NC • D

    Sponsored 5/26/2026

  • Rep. McCollum, Betty [D-MN-4]

    MN • D

    Sponsored 5/26/2026

  • Rep. Landsman, Greg [D-OH-1]

    OH • D

    Sponsored 8/20/2026

  • Del. Norton, Eleanor Holmes [D-DC-At Large]

    DC • D

    Sponsored 9/15/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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