BETS OFF Act

This bill would make it illegal for anyone to place, accept, or help arrange a bet on certain events. These events include terrorism, assassinations, wars, and non-financial events that are government actions, are fully controlled by one person, or have outcomes someone already knows. The U.S. Attorney General could sue in federal court to stop violations. The bill would also bar federally registered trading platforms, such as those regulated under the Commodity Exchange Act, from listing contracts tied to these events, and would treat such bets as gambling under existing federal gambling and internet gambling laws. Certain lawful insurance is excluded, and the law would take effect 30 days after enactment.

Full text and official record on Congress.gov

Sponsors

• Christopher Murphy Democrat sponsor
• 2 cosponsors