Part ofelections →

HR10505FEDERALIN_COMMITTEE

High Impact

Ban Gambling on Elections Act of 2024

December 18, 2024

elections gambling finance commodity exchange act regulation

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Where This Stands

Introduced

Committee

Floor Vote

Passed

Signed

Currently IN_COMMITTEE. The next step in the legislative lifecycle is Floor Vote.

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 →

The Frame

What this does

The bill would eliminate the ability for individuals and firms to use regulated financial markets to bet on the outcomes of U.S. elections, directly impacting the business models of prediction markets and financial exchanges currently offering these products.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Registered financial entities

These entities would be prohibited from listing or making available for clearing or trading any contracts or swaps related to political elections.

Prediction market participants

Individuals or firms currently using regulated exchanges to trade election-based contracts would lose access to these specific financial instruments.

What changed

Current stage: IN_COMMITTEE.

What's next

Floor Vote.

Background

The Commodity Exchange Act is the primary federal law governing the trading of futures and options in the United States, overseen by the Commodity Futures Trading Commission (CFTC). context
Prediction markets have recently sought to offer contracts allowing users to bet on the outcomes of U.S. federal elections, leading to increased regulatory scrutiny. context

Summary

This bill would make it illegal to list or trade financial contracts, s, or agreements that are based on the outcomes of political elections or contests. If passed, registered financial entities would be prohibited from offering any trading products tied to election results or related political data.

Why It Matters

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

What exactly does this bill ban?

It bans the listing or trading of any financial contract, , or agreement that is based on the outcome of a political election or contest, including any data or index related to those events.

Who would be affected by this law?

Registered financial entities that currently list or clear contracts based on election outcomes would be prohibited from offering these specific products.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift95% confidence

Expansion of Commodity Exchange Act

The bill seeks to explicitly categorize political election outcomes as prohibited underlying assets for financial contracts, extending the scope of the Commodity Exchange Act beyond traditional commodities.

Commodity Exchange Act

Connected Entities

personCasten“Representative Casten co-sponsored the bill”Map →

organizationHouse of Representatives“Where the bill was introduced”Map →

bill_numberCommodity Exchange Act“The Act being amended”Map →

personRaskin“Representative Raskin introduced the bill”Map →

other118th Congress“Congress in which the bill was introduced”Map →

personSalinas“Representative Salinas co-sponsored the bill”Map →

organizationU.S. Government Publishing Office“Source of the document”Map →

organizationAgriculture Committee“Committee to which the bill was referred”Map →

Analysis Score

0–100

Significance75
How much this matters to a regular citizen
Controversy65
Intensity of disagreement among stakeholders
Entertainment40
Compellingness for a non-policy-wonk reader
Buzz60
Current news / social attention level

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