SF 2494: Regulating designated contract markets and providing penalties

What it does

This bill regulates designated contract markets. The bill defines “designated contract markets” (market) to mean a digital marketplace for trading event-driven contracts that is also regulated by the federal commodity futures trading commission. The bill defines “event-driven contracts” (contract) to mean a financial derivative traded on a designated contract market that provides a fixed binary payout based upon the occurrence or nonoccurrence of a specific future event that is contingent upon and determined solely by the definitive outcome of a verifiable specific event or external measure rather than being based upon the continuous fluctuation of a security price.

Senate subcommittee · named April 13, 2026

• Sen. Dan Dawson (R) · dan.dawson@legis.iowa.gov
• Sen. Herman C. Quirmbach (D) · herman.quirmbach@legis.iowa.gov
• Sen. Jeff Taylor (R) · jeff.taylor@legis.iowa.gov

Lobbying · 1 for, 2 against

For: Caesars Enterprise Services, LLC.

Against: Cedar Rapids Development Group LLC; Elite Casino Resorts, LLC

In plain words

1. April 13, 2026Filed in the Senate and sent to the Ways and Means committee · as SSB 3195
2. April 13, 2026Senate subcommittee named: Dawson, Quirmbach and Taylor · as SSB 3195
3. April 14, 2026Subcommittee recommended passing it · as SSB 3195
4. April 14, 2026Approved by the Senate committee, and given a new number: SF 2494 · as SSB 3195
5. April 15, 2026Filed in the Senate
6. April 15, 2026Approved by the Senate committee