Wildfire Event Contract Prohibition Act

AI-generated ?

Report an error

Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

Referred to the Committee on Agriculture, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Bans financial contracts that allow betting on wildfire events

This bill would stop people from making financial bets on wildfire events, like their size or damage, through prediction markets. It would change federal law to ban these contracts. The bill also requires the Attorney General to review how federal agencies currently handle crimes related to profiting from wildfires.

What Would Change

Today, the Commodity Exchange Act does not specifically stop financial contracts related to wildfire events from being traded on regulated markets. If this bill becomes law, federal law would explicitly ban these wildfire event contracts. The Attorney General would also review existing laws to see how to better stop people from profiting from wildfires.

Key Provisions

Bans financial contracts that allow people to bet on wildfire events, including their start, size, and damage.
Requires the Attorney General to review federal laws related to profiting from wildfires within 180 days of the bill becoming law.
Directs the Attorney General's review to assess how federal agencies can investigate and prosecute those who intentionally cause wildfires for profit. It also covers those who use secret information for trading.
Mandates the Attorney General to report findings and suggest new laws to Congress within 30 days of completing the review.

View on Congress.gov

HR 10109 · 119th Congress · AI Summary by gemini-2.5-flash · 10/10

Wildfire Event Contract Prohibition Act

What Would Change

Key Provisions

Lobbying Activity