Event Contract Enforcement Act

Section 5c(c)(5)(C) of the Commodity Exchange Act (7 U.S.C. 7a–2(c)(5)(C)) is amended—

(1) by striking clauses (i) and (ii) and inserting the following:; and

Subject to clause (ii), it shall be unlawful to list or make available for trading on or through a registered entity an agreement, contract, transaction, or swap in an excluded commodity that is based on an occurrence, the extent of an occurrence, or a contingency (other than a change in the price, rate, value, or level of a commodity described in section 1a(19)(i)) in relation to—

(I) activity that is unlawful under Federal or State law;

(II) terrorism;

(III) assassination;

(IV) war;

(V) gaming;

(VI) the result of any vote in an election (as defined in section 301 of the Federal Election Campaign Act of 1971) held under Federal, State, or local law, including a ballot initiative or referendum;

(VII) conduct by or in any level or branch of the Federal Government or of any State or local government, including by or in any instrumentality or by any personnel of any level or branch of any such government; or

(VIII) other similar activity determined by the Commission, by rule or regulation, to be contrary to the public interest.

Clause (i)(V) shall not apply with respect to conduct in a State if the law of the State expressly exempts conduct in the State from the application of such clause.

(2) by adding at the end the following:

In clause (i), the term gaming means any aspect of a live, simulated, or virtual physical or mental challenge or game of chance.

The amendments made by subsection (a) shall take effect on the date that is 180 days after the date of the enactment of this Act.