Bills · HR 7955
IN COMMITTEE· 119TH CONGRESS
House BillHR 7955Finance and Financial Sector
BETS OFF Act
INTRO MAR 17· LAST ACTION APR 3
READING
5MIN
COSPONSORS
7
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it aims to prevent a controversial and potentially harmful type of speculation. Currently, some platforms might allow betting on future events like political outcomes, major news developments, or even tragic occurrences. This bill seeks to draw a clear line, making it illegal to profit from bets on things like acts of terrorism, assassinations, or wars.
If this bill becomes law, it would ensure that there are no financial incentives tied to such sensitive events, which could be seen as morally questionable or even encouraging of harmful outcomes. It also addresses concerns about market manipulation or insider trading related to government actions or outcomes known in advance. If it doesn't pass, the possibility of people betting on and potentially profiting from these types of events would continue, which raises ethical questions and concerns about market integrity and public trust.
KEY PROVISIONS
5AI-extractedPROVISION 01
Prohibits any person from placing, accepting, or facilitating wagers on 'specified events'.
This establishes the core ban, preventing speculation on sensitive and potentially tragic events.
PROVISION 02
Defines 'specified event' to include acts of terrorism, assassinations, wars, certain government actions, and events with controlled or known outcomes that are not primarily financial.
This clarifies exactly what types of events are covered by the prohibition, limiting the scope to particularly sensitive or manipulable situations.
PROVISION 03
Excludes legitimate forms of insurance (like terrorism, flood, or crop insurance) from the definition of a 'wager'.
This ensures that the bill does not inadvertently criminalize or hinder beneficial and regulated insurance practices.
PROVISION 04
Amends existing federal laws related to illegal gambling, racketeering, internet gambling, and commodity trading to include violations of this new prohibition.
This integrates the new ban into existing legal frameworks, allowing for enforcement and applying established penalties.
PROVISION 05
Authorizes the Attorney General to bring civil actions for injunctive relief against violators.
This provides a mechanism for the government to legally stop prohibited betting activities.
SPONSORSHIP
1 + 7
D· Texas
YRS IN OFFICE
3
BILLS LED
9
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 7 REP 0 IND 0
ACTION TIMELINE
4 EVENTSAPR 3
Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
MAR 17
Introduced in House
MAR 17
Referred to the Committee on the Judiciary, and in addition to the Committees on Agriculture, and Financial Services, 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.
MAR 17
Referred to the Committee on the Judiciary, and in addition to the Committees on Agriculture, and Financial Services, 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.
BILL INFO
TypeHouse Bill
NumberHR 7955
Congress119th
StatusIn Committee
IntroducedMar 17, 2026
Last actionApr 3, 2026
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IN COMMITTEE· 119TH CONGRESS · AGRICULTURE COMMITTEE · INTRODUCED MAR 17, 2026
House BillHR 7955Finance and Financial Sector
BETS OFF Act
INTRODUCED MAR 17, 2026· LAST ACTION APR 3, 2026
PASSAGE CHANCES
—%
READING
5 min
COSPONSORS
7
COMPLEXITY
Moderate
