What does Preamble of BETS OFF Act do?

This bill aims to prohibit individuals from placing, accepting, or facilitating wagers related to specified events. The bill is referred to the Committee on the Judiciary, as well as the Committees on Agriculture, and Financial Services.

What does SHORT TITLE. of BETS OFF Act do?

This bill is formally titled the Banning Event Trading on Sensitive Operations and Federal Functions Act

What does DEFINITIONS. of BETS OFF Act do?

This section defines key terms used within the Act. “Specified event” is defined as an act of terrorism, an assassination, a war, or an event meeting specific criteria related to non-financial characteristics and control over the outcome. The criteria for a 'specified event' includes that its 'primary underlying characteristic is not financial, commercial, or economic'. “Wager” is defined as staking something of value on an event's outcome, with the expectation of receiving something of value based on that outcome. The definition of “wager” excludes certain types of insurance, including insurance lawful under state, foreign, or federal law. Insurance under the Terrorism Insurance Program established under the Terrorism Risk Insurance Act of 2002 is excluded from the definition of 'wager'.

What does PROHIBITED CONDUCT. of BETS OFF Act do?

This section prohibits placing, accepting, or facilitating the placement or acceptance of a wager regarding a specified event. The Attorney General may bring a civil action for injunctive relief against individuals violating the prohibition. Violations of the prohibition are considered unlawful.

What does AMENDMENTS. of BETS OFF Act do?

This section amends various sections of the United States Code to include conduct prohibited by the Banning Event Trading on Sensitive Operations and Federal Functions Act. Amendments are made to sections related to interstate and foreign travel or transportation in aid of racketeering enterprises, prohibition of illegal gambling businesses, and prohibition on funding of unlawful internet gambling. The Commodity Exchange Act is also amended to prohibit agreements, contracts, transactions, or swaps involving specified events from being listed or made available for clearing or trading on or through a registered entity.

What does SEVERABILITY. of BETS OFF Act do?

This section addresses the severability of the Act's provisions. If a provision is held unconstitutional, the remainder of the Act remains unaffected.

What does EFFECTIVE DATE. of BETS OFF Act do?

This Act will become effective 30 days after its enactment.

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BETS OFF Act

Last updated: 3/17/2026 · Introduced: 3/17/2026

Author: Greg Casar (D-TX)

TL;DR (AI)

This bill prohibits wagering on specified events, including acts of terrorism, assassinations, and wars, as well as events primarily characterized by non-financial factors.
The bill amends existing laws related to racketeering, illegal gambling, and internet gambling to incorporate these prohibitions.
The Commodity Exchange Act is amended to prevent trading or clearing agreements related to specified events on registered entities.

119th Congressin committeeS. 4115(In Committee)Official page

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Other Sections

Includes provisions on preamble, short title., and 5 more.

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