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119-s-4017119th CongressWALLET

End Prediction Market Corruption Act

Sponsored By: Senator Merkley, Jeff [D-OR]

Introduced

Summary

Ban on government officials trading event contracts. This bill would bar high-level officials from trading event contracts (agreements that pay out based on specified occurrences) and would strengthen disclosure and enforcement around those markets.

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  • Covered individuals, including the President, the Vice President, and Members of Congress, would be prohibited from purchasing, selling, or exchanging event contracts.
  • Senior executive branch officials would be barred from trading event contracts that concern matters in which they participate personally and substantially in their official capacity.
  • Enforcement and market rules would tighten. The Attorney General could bring civil actions with penalties up to the greater of $10,000 per violation or the violator's profit. Foreign boards of trade would need to file quarterly reports on prohibited trades and could lose registration for failures, and the Commission would be required to issue rules limiting misuse of material nonpublic information.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 0 benefits, 0 costs, 4 mixed.

Stronger market rules and foreign reports

If enacted, the Commodity Futures Trading Commission would have to issue rules to stop people using material nonpublic information to profit from event contracts. The rules could require designated markets to bar trades by people the Commission finds appropriate to restrict. Foreign boards of trade that use U.S. interstate commerce would have to file quarterly reports about trades that break the ban, and the Commission could revoke registration if they fail to report. These measures would take effect when the law starts.

Ban on event trading by officials

If enacted, the President, Vice President, and Members of Congress would be barred from buying, selling, or trading any "event contract." The bill would add definitions for who is covered, what an event contract is, and what counts as material nonpublic information. The Attorney General could sue violators and a court could fine them the larger of $10,000 per violation or the profit from the trade. These rules would take effect when the law starts.

Limits on senior executive trading

If enacted, senior executive branch officials would be barred from buying, selling, or trading an event contract when the contract concerns a particular matter they personally and substantially handle in their official role. Participation includes decisions, approvals, recommendations, investigations, advice, and some proceedings. The rule would take effect when the law starts.

New reporting for officials' event trades

If enacted, covered reporting officials would have to say in their periodic financial reports whether they, a spouse, or a dependent child bought, sold, or traded an event contract. They would have to describe any such contract and state its value. They would also have to file a transaction report no later than 30 days after getting notice of the transaction, and in no case later than 45 days after the trade.

Sponsors & CoSponsors

Sponsor

Merkley, Jeff [D-OR]

OR • D

Cosponsors

  • Sen. Klobuchar, Amy [D-MN]

    MN • D

    Sponsored 3/5/2026

  • Sen. Van Hollen, Chris [D-MD]

    MD • D

    Sponsored 3/5/2026

  • Sen. Schiff, Adam B. [D-CA]

    CA • D

    Sponsored 3/5/2026

  • Sen. Gillibrand, Kirsten E. [D-NY]

    NY • D

    Sponsored 3/5/2026

Roll Call Votes

No roll call votes available for this bill.

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