Davis proposes ban on candidates trading election contracts

Rep. Don Davis has introduced legislation that would bar federal candidates, their spouses, dependent children and authorized campaign committees from trading contracts tied to the candidates’ elections. The No Betting on Your Own Race Act would impose a civil penalty of $10,000 per violation or three times the net financial gain, whichever is greater. The proposal has not become law, and Congress is not expected to consider it before the November 3, 2026 midterm elections. The bill would cover contracts based on whether a candidate wins, remains in a race or achieves a particular vote share, margin or placement. Its scope would also include primaries, caucuses, conventions and other nomination contests. The restrictions would apply to direct and indirect interests, including inducing another person to trade or knowingly providing funds for someone else to take a position. The proposal would require the Federal Election Commission to maintain a free, machine-readable list of federal candidates and update it at least weekly. Candidates would be notified of the restrictions when filing for federal office.