The Prediction Market Act of 2026 amends federal commodity trading law to establish a regulatory framework for "event contracts," which are prediction market contracts based on future events rather than commodity prices. The bill grants the Commodity Futures Trading Commission authority to prohibit event contracts involving illegal activities, terrorism, assassination, war, violence, or gaming when contrary to the public interest, and requires stricter disclosure, anti-fraud, and anti-money laundering protections for retail customers participating in these markets. The legislation creates an Advisory Council on Consumer Protection to recommend safeguards such as self-exclusion programs and deposit limits, as well as an Office of the Retail Advocate within the Commission to handle complaints and protect non-institutional traders. The bill authorizes $30 million annually from fiscal years 2027 through 2031 for the Commission to implement these provisions, conduct required studies, establish the retail advocate office, and enhance market surveillance and data analysis capabilities.
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