Studies

(a) Definitions In this section: (1) Commission The term Commission means the Commodity Futures Trading Commission. (2) Event contract The term event contract has the meaning given the term in subsection (d)(1) of section 5c of the Commodity Exchange Act (7 U.S.C. 7a–2). (b) Study on event contracts (1) Study The Commission shall conduct a study on event contracts that includes— (A) the size and structure of event contract markets; (B) the growth of event contract listings by contract markets designated under the Commodity Exchange Act (7 U.S.C. 1 et seq.) and swap execution facilities (as defined in section 1a of that Act (7 U.S.C. 1a)); (C) the characteristics of the market structure and liquidity formation in event contracts related to— (i) weather; (ii) technology; (iii) science; (iv) economics; (v) government data; (vi) cultural events; (vii) political events; (viii) sports; or (ix) a particular word or phrase to be potentially mentioned by one or more persons in an oral or written statement, speech, briefing, address, or other form of communication; (D) the types of trader or intermediary conduct unique to event contracts and markets that should be closely monitored or given special consideration; and (E) the provisions of the Commodity Exchange Act (7 U.S.C. 1 et seq.) that prohibit fraud, manipulation, disruptive trading, or other similar conduct and apply to activities outside the United States related to event contracts. (2) Report Not later than 1 year after the date of enactment of this Act, the Commission shall submit to Congress and publish on a publicly available website of the Commission a report on the findings of the study required under paragraph (1). (c) Joint Securities and Exchange Commission and Commodity Futures Trading Commission study (1) Study The Securities and Exchange Commission and the Commission shall conduct a joint study on event contracts that includes— (A) the nature of event contracts that could be in the jurisdiction of the Securities and Exchange Commission; (B) the harmonization efforts of the Securities and Exchange Commission and the Commission relevant to event contracts; and (C) the nature, size, role, and use of decentralized blockchain applications to offer event contracts. (2) Report Not later than 15 months after the date of enactment of this Act, the Commission shall submit to Congress and publish on a publicly available website of the Commission a report on the findings of the study required under paragraph (1).