U.S. Representative Don Davis of North Carolina has introduced the Banning Bet on Own Elections Act, a proposal that would bar federal election candidates, their campaign teams, and their spouses and children from buying, selling, or holding political event contracts tied to the candidates’ own races. The bill sets civil penalties of up to $10,000 per violation, or forfeiture of three times the potential profit. Congress is currently in recess until after the November midterm elections, which means the measure will not be considered before the 2026 midterm cycle. The proposal targets direct financial exposure by candidates and their immediate circles to contracts linked to their own election results.
Odaily reported that U.S. Representative Don Davis of North Carolina has introduced the Banning Bet on Own Elections Act. The proposal would prohibit federal election candidates, their campaign teams, and their spouses and children from buying, selling, or holding political event contracts related to the candidates’ own elections.
Under the bill, violators could face a civil penalty of up to $10,000 for each violation, or forfeit three times the amount of potential profit.
Because Congress is currently in recess until after the November midterm elections, the bill cannot be taken up before the 2026 midterm elections.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
