H.R. 7942

DEATH BETS Act

Sponsor: Mike Levin

2 cosponsors
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Sec. 1. Short title

This Act may be cited as the Discouraging Exploitative Assassination, Tragedy, and Harm Betting in Event Trading Systems Act or the DEATH BETS Act.

Sec. 2. Prohibition on listing of contracts relating to war, death, and similar activities

Section 5c of the Commodity Exchange Act (7 U.S.C. 7a–2) is amended by inserting after subsection (c) the following:

Text this section adds to the law

(d) Prohibition on listing of contracts relating to war, death, and similar activities. A registered entity shall not list for trading or accept for clearing on or through the registered entity any of the following:

(1) An agreement, contract, transaction, or swap based on an excluded commodity (as defined in section 1a(19)(iv)) that involves, relates to, or references terrorism, assassination, war, or any similar activity, as determined by the Commission.

(2) An agreement, contract, transaction, or swap based on an excluded commodity (as defined in section 1a(19)(iv)) that involves, relates to, or references an individual’s death or could otherwise be construed as correlating closely to an individual’s death.