Fair Markets and Sports Integrity Act
Summary
What This Bill Does
The bill adds a sporting event and gaming contract prohibition to Commodity Exchange Act section 4c. A registered entity could not list for trading, facilitate, or clear any agreement, contract, or transaction that is based on, references, derives value from, or otherwise involves a sporting event, athletic competition, or casino-style game. Casino-style games include slots, blackjack, roulette, craps, poker, bingo, lotteries, and digital or simulated versions. Sporting events include live, simulated, or virtual athletic or skill competitions with outcomes, scores, or statistics.
Who Benefits and How
Sports leagues, athletes, state athletic associations, sports integrity programs, and consumers concerned about gambling-like derivatives benefit from a federal ban on exchange-traded sports and casino event contracts. CFTC oversight staff receive a clear statutory line that registered derivatives entities cannot cross. The bill also protects amateur and intercollegiate sports from prediction-market products tied to game outcomes or statistics.
Who Bears the Burden and How
Registered derivatives entities, event-contract exchanges, clearinghouses, gaming contract traders, and financial firms seeking to list sports or casino-style contracts lose a product category and must screen proposed contracts against the new definitions. The CFTC must enforce the prohibition and interpret whether contracts reference covered events, competitions, scores, statistical measures, or casino games. Market participants may need to delist or avoid products that fall within the statutory ban.
Key Provisions
- Prohibits registered entities from listing, facilitating, or clearing contracts tied to sporting events or athletic competitions.
- Prohibits registered entities from listing, facilitating, or clearing contracts tied to casino-style games.
- Defines casino-style games to include slots, blackjack, roulette, craps, poker, bingo, lotteries, and digital simulations.
- Defines sporting events to include live, simulated, virtual, amateur, intercollegiate, and professional competitions.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Amends the Commodity Exchange Act to bar registered entities from listing, facilitating, or clearing event contracts tied to sporting events, athletic competitions, or casino-style games, including digital or simulated versions.
Key Policy Areas
financial_services, sports, gaming
Primary Purpose
Amends the Commodity Exchange Act to bar registered entities from listing, facilitating, or clearing event contracts tied to sporting events, athletic competitions, or casino-style games, including digital or simulated versions.
Policy Domains
Substantive provisions
Identified Gains
- Sports leagues
- Athletes
- State athletic associations
- Sports integrity programs
- Consumers
Identified Costs
- Registered derivatives entities
- Event-contract exchanges
- Clearinghouses
- CFTC
- Gaming contract traders
Sponsors
Dina Titus
D-NV | Primary Sponsor
Legislative Progress
In CommitteeReferred to the Subcommittee on General Farm Commodities, Risk Management, …
Referred to the House Committee on Agriculture.
Introduced in House
Ms. Titus introduced the following bill; which was referred to …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Event-contract exchanges, Registered derivatives entities
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "agencies"
- → ['CFTC']
- "beneficiaries"
- → ['Sports leagues', 'State athletic associations', 'Consumers']
Key Definitions
Terms defined in this bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology