Wildfire Event Contract Prohibition Act bans contracts on wildfire events on prediction markets.

The Wildfire Event Contract Prohibition Act amends the Commodity Exchange Act to prohibit contracts on wildfire events on prediction markets. The Act defines a wildfire event as any occurrence, including ignition, spread, and damage, and prohibits trading of such events. The Attorney General must review existing authorities and submit a report to Congress within 180 days. It is the sense of Congress that these contracts create improper incentives to profit from wildfires.

Wildfire Event Contract Prohibition Act bans contracts on wildfire events on prediction markets.

The Wildfire Event Contract Prohibition Act amends the Commodity Exchange Act to prohibit contracts on wildfire events on prediction markets. The Act defines a wildfire event as any occurrence, including ignition, spread, and damage, and prohibits trading of such events. The Attorney General must review existing authorities and submit a report to Congress within 180 days. It is the sense of Congress that these contracts create improper incentives to profit from wildfires.