BETS OFF Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4115 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4115 To ban certain types of wagers. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 17, 2026 Mr. Murphy (for himself and Mr. Hickenlooper) introduced the following bill; which was read twice and referred to the Committee on the Judiciary _______________________________________________________________________ A BILL To ban certain types of wagers. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Banning Event Trading on Sensitive Operations and Federal Functions Act'' or the ``BETS OFF Act''. SEC. 2. DEFINITIONS. In this Act: (1) Specified event.--The term ``specified event'' means-- (A) an act of terrorism; (B) an assassination; (C) a war; or (D) any event-- (i) the primary underlying characteristic of which is not financial, commercial, or economic; and (ii)(I) that is an action taken by any government, unit of government, intergovernmental organization, or government official; (II) the outcome of which is under the complete control of any person; or (III) the outcome of which is known by any person in advance. (2) Wager.--The term ``wager''-- (A) means the staking or risking by any person of something of value upon the outcome of an event, including the outcome of any portion or aspect thereof, upon an agreement or understanding that the person or another person will receive something of value in the event of a certain outcome; and (B) does not include insurance for which the insured holds a lawful insurable interest-- (i) under State law, within the meaning of the Act entitled ``An Act to express the intent of the Congress with reference to the regulation of the business of insurance'', approved March 9, 1945 (commonly known as the