Event Contract Enforcement Act

The Event Contract Enforcement Act would amend federal commodities law to clarify that certain event contracts involving sports betting and gaming are illegal when conducted outside established regulatory frameworks. Specifically, the bill would make it unlawful to list or trade contracts based on election results, government conduct, or other specified events on registered commodity exchanges. The legislation targets prediction market platforms that have begun offering sports event futures contracts, which supporters argue constitute illegal betting operations that circumvent state and tribal gaming regulations. If enacted, the bill would strengthen enforcement by the Commodity Futures Trading Commission (CFTC) to close what proponents describe as a regulatory loophole. The bill has been referred to committee and has not yet been voted on by the full House.