To amend the Commodity Exchange Act to prohibit the listing of contracts relating to wildfires.
Key claim: A House bill would ban U.S. commodity exchanges from listing futures or other contracts based on wildfires.
Abstract
(HR10951 · 119th Congress) Latest action (2026-10-29): Referred to the House Committee on Agriculture.
Why this matters
Event and catastrophe-linked derivatives have become a flashpoint for the CFTC, which has struggled to draw lines between legitimate risk-hedging instruments and contracts resembling gambling on disasters. A targeted statutory ban on wildfire contracts would be the first time Congress has carved out a specific disaster category from exchange listing, setting a template for narrowing the universe of permissible event contracts. The bill is early-stage and has no committee action, so it currently signals congressional appetite rather than imminent change.