No Betting on Your Own Race Act

This bill would bar candidates for federal office, their spouses and dependent children, and their campaign committees from buying, selling, or holding contracts that pay out based on the candidate's own election, nomination, or vote share. Violators would face a civil fine of $10,000 per violation or three times the net financial gain, whichever is greater. Trading platforms would not be penalized under the law and would be shielded from liability for good-faith actions to stop or report violations. The Federal Election Commission would publish a free, weekly-updated public list of federal candidates and make sure candidates are told of the rules when they file.

Full text and official record on Congress.gov

Sponsors

• Donald G. Davis Democrat sponsor
• 0 cosponsors