People could not place or run bets on war, terrorism, assassinations, or some government decisions. Trading markets also could not list contracts tied to those events. The bill would start 30 days after becoming law.
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BETS OFF Act is a Senate bill in committee. The latest recorded action: Read twice and referred to the Committee on the Judiciary.
Latest action on S. 4115: Read twice and referred to the Committee on the Judiciary.
Who this affects: This bill mainly affects gambling operators, online betting platforms, commodity exchanges, futures markets, clearinghouses, and people who bet on event outcomes. These groups would have to avoid bets or contracts tied to the banned events. Payment systems would also have to block these wagers under federal internet gambling rules. People who use prediction markets could see fewer contracts about government actions or sensitive events.
Why this matters: This bill matters because it would stop people and markets from profiting through bets on violent events or sensitive government decisions. It could reduce incentives to manipulate or benefit from those events. It could also shrink some prediction markets that people use to forecast public events. The size of that effect is not clear from the bill text alone.
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