Wildfire Event Contract Prohibition Act

The Wildfire Event Contract Prohibition Act would amend the Commodity Exchange Act to ban the listing or trading of contracts based on wildfire events, including details such as ignition, spread, damage, or evacuations. This prohibition applies to any agreement or swap involving these matters on registered financial entities. The bill also directs the Attorney General, in consultation with other federal officials, to review existing criminal and civil authorities for prosecuting individuals who profit from wildfires through wagers or trade on nonpublic information. Following this 180-day review, the Attorney General must submit a report to congressional committees with findings and potential legislative recommendations.