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Bill

HR 9856

Prediction Markets Are Gambling Act

119th Congress Introduced by Mark Amodei and 1 co-sponsor

Prohibits listing, clearing, or trading any sporting, athletic, or casino-style game contracts on registered commodity exchanges or similar entities.

Introduced in House
0
WeVote Research Nonpartisan
Bill Summary · HR 9856

Overview

  • Bill: HR 9856, the Prediction Markets Are Gambling Act
  • Session: 119th Congress
  • Purpose: Amends the Commodity Exchange Act to prohibit certain event contracts involving sports and casino-style games from being listed or traded on registered entities.
  • Introduced: July 22, 2026 (by Rep. Horsford, with Rep. Amodei as co-sponsor)
  • Status: Referred to the House Committee on Agriculture

main purpose and intent

  • The bill seeks to restrict and prohibit the listing, clearing, or trading of agreements, contracts, or transactions that relate to sporting events, athletic competitions, or casino-style games on registered commodity exchanges or similar entities.
  • It targets prediction markets and other event-based contracts tied to sports or casino-style gaming, framing them as gambling activities that should not be offered within regulated trading venues.

key provisions and changes

  • Amendment to the Commodity Exchange Act (CEA): Adds new paragraph (6) to Section 5c(c).
    • Definitions:
    • Casino-style game: Includes traditional casino games (slot machines, video poker, blackjack, roulette, craps), other casino-style table games, bingo, lottery, and any simulation of those games.
    • Sporting event or athletic competition: Covers live or virtual contests involving physical activity or skill where outcomes or statistical results are determined by performance; includes amateur, collegiate, and professional sports.
    • Prohibition:
    • Notwithstanding other provisions, no agreement, contract, or transaction related to any sporting event/athletic competition or casino-style game may be listed or made available for clearing or trading on or through a registered entity.
    • Rule of construction:
    • The act does not preempt state laws or rules regulating or prohibiting such agreements, contracts, or transactions.
  • Effective date:
    • The prohibition applies to agreements, contracts, or transactions entered into on or after the date of enactment of the Act.
  • Implementation notes:
    • The bill does not remove existing state laws; it preempts only to the extent it prohibits listing/trading on registered entities.
    • It clarifies that state law/regulation remains applicable where relevant.

who or what would be affected

  • Affected entities:
    • Registered entities under the Commodity Exchange Act (e.g., designated contract markets, swap execution facilities, and other CEA-regulated platforms that list and trade event contracts).
  • Affected activities:
    • Listing, clearing, or trading of event contracts tied to sporting events, athletic competitions, or casino-style games.
  • Broader impact:
    • Market participants seeking to create or trade prediction-market-style contracts based on sports or casino outcomes would be barred from those venues.
    • Potential shift of such activity to non-registered venues or alternative markets not subject to this prohibition, depending on other laws.

procedural and timeline aspects

  • Process:
    • Bill was introduced in the House and referred to the Committee on Agriculture for consideration.
  • Dates:
    • Introduction date: July 22, 2026
    • Reference: Committee on Agriculture
  • Next steps (typical legislative path):
    • Committee review, markup, and potential passage by the House
    • If passed, transmission to the Senate for consideration
    • Potential presidential approval or veto and enactment

Contextual notes

  • The bill’s title underscores its aim: to restrict prediction markets by labeling such activity as gambling and prohibiting participation on regulated trading platforms.
  • It expressly protects state law determinations by preserving non-preemptive status for state prohibitions or regulations that already govern sporting or casino-related contracts.

If you’d like, I can compare this bill to existing CEA provisions or summarize potential economic and regulatory implications for market participants and state regulators.

Compiled from official sources — confirm details with the bill’s official record.

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