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US HB7955
Bill
Status
3/17/2026
Primary Sponsor
Greg Casar
Click for details
AI Summary
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Prohibits placing, accepting, or facilitating wagers on "specified events" including acts of terrorism, assassinations, wars, government actions, and events with outcomes under any person's complete control or known in advance
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Excludes legitimate insurance products from the prohibition, including state-regulated insurance, federal terrorism insurance, flood insurance, and crop insurance programs
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Authorizes the Attorney General to bring civil actions for injunctive relief against violators in federal district court
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Amends federal gambling laws (18 U.S.C. 1952, 1955, and 31 U.S.C. 5362) to include violations of this Act within existing prohibitions on illegal gambling businesses and unlawful internet gambling
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Bars registered commodities entities from listing or clearing any contracts, swaps, or transactions involving specified events; takes effect 30 days after enactment
Legislative Description
BETS OFF Act Banning Event Trading on Sensitive Operations and Federal Functions Act
Finance and financial sector
Last Action
Referred to the Committee on the Judiciary, and in addition to the Committees on Agriculture, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
3/17/2026