Bill > HR8148

This bill, also known as the Prediction Market RISK Act, clarifies that the Commodity Futures Trading Commission (CFTC), the government agency that regulates futures and options markets, has the authority to enforce rules against illegal trading practices on prediction markets. A "prediction market contract" is defined as any financial agreement or derivative traded on a platform involved in interstate commerce that is linked to whether a future event happens or not, including contracts based on market events. This means that existing laws prohibiting illegal trading, such as those based on insider information, will apply to these prediction market contracts, reinforcing the CFTC's oversight in this area.