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Read. Follow. Verify.Iowa Senate Bill 2494 Regulates Event-Driven Contract Markets and Sets Penalties for Violations
Last action · April 15, 2026: Committee report, approving bill. S.J. 807 .
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What This Bill Would Do
Senate File 2494 establishes comprehensive regulations for s offering event-driven financial derivatives in Iowa, prohibiting public officials and lobbyists from trading on government-related contracts and barring individuals under 21 from participating. The measure requires markets to implement age verification, responsible trading limits, and internal controls approved by the Attorney General prior to operation.
The bill creates new compliance obligations and operating restrictions for digital platforms offering s in Iowa, while imposing strict criminal and civil penalties—including fines up to $1 million per day for violating court injunctions—for noncompliance.
- Event-driven contracts and prediction markets have faced increasing scrutiny from state and federal regulators regarding consumer protections, age verification, and insider trading risks. context
- Senate File 2494 succeeded SSB 3195 during the 91st General Assembly of the Iowa General Assembly in 2026. context
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
designated contract markets
Designated contract markets must comply with new operating rules, age verification, advertising restrictions, internal control approval processes, and face substantial civil penalties for violations.
public employees, public officials, and lobbyists
Public employees, public officials, and lobbyists are prohibited from trading event-driven contracts related to legislative or governmental actions, under penalty of serious misdemeanor charges and professional sanctions.
consumers under twenty-one years of age
Consumers under twenty-one years of age are prohibited from registering or trading on designated contract markets offering event-driven contracts.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Who is prohibited from trading event-driven contracts related to government actions?
What are the age restrictions for trading on a designated contract market under the bill?
Can consumers use credit cards to fund their trading accounts?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently in committee. The next step in the legislative lifecycle is Floor Vote.
Procedural history
7 actions- Apr 15, 2026SenateCommittee report, approving bill. S.J. 807 .
- Apr 15, 2026SenateIntroducedIntroduced, placed on Ways and Means calendar. S.J. 804 .
- Apr 14, 2026Iowa LegislatureCommittee report approving bill, renumbered as SF 2494 .
- Apr 14, 2026Iowa LegislatureSubcommittee recommends passage.
- Apr 13, 2026Iowa LegislatureSubcommittee Meeting: 04/14/2026 1:30PM Lobbyist Lounge.
- Apr 13, 2026Iowa LegislatureSubcommittee: Dawson, Quirmbach, and Taylor.
Show 1 earlier action
- Apr 13, 2026Iowa LegislatureIntroducedIntroduced, referred to Ways and Means.
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
State-Level Oversight of Federal Derivatives Markets
The bill creates state-level statutory oversight and Attorney General approval mechanisms for digital platforms that are otherwise regulated by the federal Commodity Futures Trading Commission.
Connected Entities
Sources
www.legis.iowa.gov
Analysis Score
0–100- Significance80How much this matters to a regular citizen
- Controversy50Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz40Current news / social attention level
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