BETS OFF Act
Sponsored By: Representative Casar, Greg [D-TX-35]
Introduced
Summary
A nationwide ban on wagering tied to terrorism, assassination, war, and government-controlled outcomes. The BETS OFF Act would bar anyone from placing, accepting, or facilitating wagers on those specified events and would prevent related contracts from being listed or cleared on registered trading entities.
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- Households and national security: The bill would bar wagers where the primary characteristic is not financial and where outcomes are controlled by a person or government. It aims to reduce the capacity for such bets to affect sensitive operations or federal functions.
- Betting platforms and markets: Online sportsbooks and registered trading entities would be prohibited from listing or clearing agreements, contracts, transactions, or swaps tied to specified events. The bill amends federal gambling and commodities laws to include these prohibitions.
- Insurance and enforcement: The bill excludes certain insurance and federal programs including state-law insurance under the McCarran-Ferguson Act, foreign insurance for risks outside the United States, the Terrorism Risk Insurance Program, the National Flood Insurance Program, and federal crop insurance. The Attorney General would be authorized to seek civil injunctive relief in federal court and the law would take effect 30 days after enactment.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Ban on event-linked trading and payments
If enacted, the bill would bar registered exchanges and clearinghouses from listing or clearing any contract, swap, or derivative tied to a specified event or any related index, measure, or contingency. It would also treat the banned wagers as unlawful Internet gambling for federal banking and payment rules. As a result, exchanges, clearinghouses, banks, and payment processors could face restrictions on offering or handling transactions tied to those wagers.
Ban on betting tied to sensitive events
If enacted, the bill would make it unlawful to place, accept, or facilitate wagers on certain "specified events." Those events would include acts of terrorism, assassination, war, and non-financial events that are government actions, fully controlled by a person, or known in advance. The bill would not treat ordinary insurance as a wager when the insured has a lawful insurable interest, and it exempts certain federal and foreign insurance programs like TRIA, flood insurance, and federal crop insurance. The ban and definitions would take effect 30 days after enactment.
New federal enforcement for event betting
If enacted, the Attorney General would be able to bring a civil lawsuit in federal court to stop people from violating the ban on wagers about specified events. The bill would also add that banned conduct into existing federal criminal gambling laws that cover interstate travel and illegal gambling businesses. Those changes would let federal prosecutors and courts use criminal and injunctive tools against operators and facilitators of the banned wagers.
Sponsors & CoSponsors
Sponsor
Casar, Greg [D-TX-35]
TX • D
Cosponsors
Rep. Amo, Gabe [D-RI-1]
RI • D
Sponsored 3/17/2026
Rep. Ansari, Yassamin [D-AZ-3]
AZ • D
Sponsored 3/17/2026
Rep. Tlaib, Rashida [D-MI-12]
MI • D
Sponsored 3/17/2026
Rep. Magaziner, Seth [D-RI-2]
RI • D
Sponsored 3/24/2026
Rep. Moskowitz, Jared [D-FL-23]
FL • D
Sponsored 3/24/2026
Carson
IN • D
Sponsored 3/25/2026
Rep. Foushee, Valerie P. [D-NC-4]
NC • D
Sponsored 4/16/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov