AB1840 amends the Political Reform Act of 1974 to prohibit certain transactions involving prediction market contracts.

AB1840 amends the Political Reform Act of 1974 by adding restrictions on transactions involving prediction market contracts. Specifically, it prohibits public officials and lobbyists from engaging in such transactions if they possess material nonpublic information. The bill defines "covered person" and "covered transaction" and specifies the types of events these contracts can involve, such as elections or governmental decisions. This amendment aims to prevent misuse of insider information in financial markets related to political events.

AB1840 amends the Political Reform Act of 1974 to prohibit certain transactions involving prediction market contracts.

AB1840 amends the Political Reform Act of 1974 by adding restrictions on transactions involving prediction market contracts. Specifically, it prohibits public officials and lobbyists from engaging in such transactions if they possess material nonpublic information. The bill defines "covered person" and "covered transaction" and specifies the types of events these contracts can involve, such as elections or governmental decisions. This amendment aims to prevent misuse of insider information in financial markets related to political events.