End Prediction Market Corruption Act

Prohibition of certain trades by high-ranking officials: The bill stops the President, Vice President, and Members of Congress from purchasing, selling, or exchanging event contracts (Section 2, paragraph (2)(A)).

Restrictions on senior executive branch officials: It prevents senior executive branch officials from trading event contracts that involve matters they are personally and substantially involved in as a government officer or employee (Section 2, paragraph (2)(B)).

Increased transparency through disclosure: Covered reporting individuals must now include statements in their annual and termination reports regarding whether they, their spouses, or their dependent children participated in event contract transactions (Section 3, subsection (a)).

Timely reporting of transactions: The bill requires covered reporting individuals to file reports of event contract transactions within a specific timeframe—not later than 30 days after receiving notification, but no later than 45 days after the transaction (Section 3, subsection (b)).

Prevention of inappropriate use of information: The Commission is tasked with issuing rules to restrict the use of material nonpublic information to make a profit through event contracts (Section 2, paragraph (5)).

Civil penalties for violations: Individuals found to have violated the trading bans may be subject to a civil penalty of up to $10,000 or the amount of profit made from the illegal transaction (Section 2, paragraph (3)(B)).

Burden on foreign boards of trade: Foreign boards of trade must submit quarterly reports describing illegal transactions, or they face the risk of having their registration revoked by the Commission (Section 2, paragraph (4)(B) and (C)).