This bill would prohibit betting and trading contracts based on political elections or contests in the United States. The legislation amends federal commodity trading law to ban any agreements, contracts, transactions, or financial swaps that allow people to gamble on election outcomes, including those based on indices or measures related to elections. The ban would apply to all registered trading exchanges and clearing organizations, effectively shutting down any legal market for election-based gambling products. The bill was introduced in December 2024 and referred to the Senate Committee on Agriculture, Nutrition, and Forestry, which oversees commodity trading regulations. No specific funding or implementation timeline is included in the legislation.
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