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H.R. 10951House119th Congress (2025-2027)In Committee

No Bets on Wildfires Act

To amend the Commodity Exchange Act to prohibit the listing of contracts relating to wildfires.

Sponsored by George WhitesidesRep. George Whitesides (D-CA)
Introduced October 29, 2026

AI-Generated Summary

Updated November 3, 2026 at 6:32 AM UTC

The No Bets on Wildfires Act amends the Commodity Exchange Act to stop financial markets from offering contracts that are tied to wildfires. It bars exchanges and clearinghouses from listing or clearing any agreement, contract, transaction, or swap that involves a wildfire, no matter how the fire started. The rule applies to all registered entities that operate futures, options, or swap markets, affecting traders and investors who might otherwise trade such event‑based products.

Key Provisions

  • Adds a new subsection to the Commodity Exchange Act that prohibits any registered exchange or clearinghouse from listing for trading or accepting for clearing any contract, transaction, or swap that involves a wildfire, regardless of the cause.

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Agriculture.

Agriculture Committee

October 29, 2026

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HouseIntro Referral

Introduced in House

October 29, 2026

HouseIntro Referral

Referred to the House Committee on Agriculture.

Agriculture Committee

October 29, 2026

Bill Text

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Introduced in HouseIssued October 29, 2026

I

119th CONGRESS

2d Session

H. R. 10951

IN THE HOUSE OF REPRESENTATIVES

October 29, 2026

Mr. Whitesides (for himself, Mr. Gallagher, Ms. Salinas, and Mr. Fong) introduced the following bill; which was referred to the Committee on Agriculture

A BILL

To amend the Commodity Exchange Act to prohibit the listing of contracts relating to wildfires.

1.

Short title

This Act may be cited as the No Bets on Wildfires Act.

2.

Prohibition on event contracts on wildfires

Section 5c of the Commodity Exchange Act (7 U.S.C. 7a–2) is amended by adding at the end the following:

(d)

Prohibition on event contracts relating to wildfires

A registered entity shall not list for trading or accept for clearing on or through the registered entity any agreement, contract, transaction, or swap that involves a wildfire caused by whatever means.

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