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Rep. Don Davis introduced H.R. 10732 on October 5, 2026, proposing restrictions on prediction-market trading tied to federal candidates’ own elections. The measure, reported under the name No Betting on Your Own Race Act, has been referred to the House Committee on House Administration; it has not become law.
What H.R. 10732 would do
News coverage describes the bill as barring federal candidates, their spouses, dependent children, and authorized campaign committees from trading prediction contracts tied to the candidate’s own election. The Block reports a civil penalty of $10,000 or three times the net financial gain, whichever is greater. That amount and the scope are reported summaries, not confirmed quotations of the bill’s operative language; the introduced text was not available in the sources retrieved for this article. The Block’s October 6, 2026 report is the source for those details.
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The exact definitions, exceptions, enforcement process, effective date, and other legal mechanics therefore remain unconfirmed. A news summary can explain the proposal’s broad intent, but it cannot establish how each provision would work in practice.
Bill status: introduced, not enacted
H.R. 10732 was introduced by Donald G. Davis, a Democratic representative from North Carolina, on October 5, 2026. VoteWire’s bill record reports that it was referred to the House Committee on House Administration. Referral is an early legislative step, not passage by either chamber or enactment. VoteWire also reported that a Congressional Research Service plain-English summary was not yet available. See VoteWire’s H.R. 10732 record.
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Accordingly, this proposal itself does not currently create a federal prohibition. Its later progress and the text of any eventual enacted measure would determine whether and how a federal restriction takes effect.
How the proposal differs from platform rules
Prediction-market platforms can impose their own terms and penalties, which are separate from federal law enforcement. The Associated Press reported in April 2026 that Kalshi fined and suspended three congressional candidates for wagering on their own election outcomes. AP described those as platform actions, not actions by the Commodity Futures Trading Commission. Read the AP report on the candidate cases.
In September 2026, AP also reported concerns from election administrators about market activity and public confidence, alongside platform claims that insider-trading protections prohibit candidates and campaign staff from trading on their own races. Those are attributed concerns and platform positions; the reporting does not establish that prediction-market trading changes election outcomes. Read AP’s report on election markets.
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H.R. 10732 concerns contracts tied to a covered candidate’s own federal election, according to The Block’s summary. It should not be conflated with separate initiatives addressing broader political or government-related trading.
| Measure | Reported scope | Stage or source detail |
|---|---|---|
| H.R. 10732, introduced by Don Davis | Federal candidates and specified related parties; prediction contracts tied to the candidate’s own election, as reported by The Block. | Introduced October 5, 2026; VoteWire reports referral to House Administration. Exact statutory mechanics are not confirmed. |
| Bryan Steil’s June 2026 initiative | Would bar Members of Congress, their spouses, and dependent children from using prediction markets to wager on specified government policies, government actions, or political outcomes. | Announced by the House Administration Committee majority; the available description does not establish additional bill details. Committee announcement. |
| H.R. 10199 | The Congressional Record’s introduction description covers the President, Vice President, Members of Congress, senior federal officials, spouses, and dependents, and includes stocks, digital assets, and prediction-market contracts. | Listed in the Congressional Record on August 31, 2026. Congressional Record, August 31, 2026. |
The available descriptions do not establish matching penalty or enforcement details for all three measures, so those should not be inferred from their titles or broad summaries.
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