Wounded Knee Massacre Memorial and Sacred Site Act This bill directs the Department of the Interior to complete all actions necessary to place approximately 40 acres of land in Oglala Lakota County, South Dakota, into restricted fee status for the Oglala Sioux Tribe and the Cheyenne River Sioux Tribe. Restricted fee status refers to land that is owned by a tribe or tribal member but is subject to restrictions by the United States against alienation (i.e., sale or transfer) or encumbrance (e.g., liens, leases, or rights-of-way) by operation of law. The bill requires the land to be held and maintained as a memorial and sacred site, as outlined by the document titled Covenant Between the Oglala Sioux Tribe and the Cheyenne River Sioux Tribe and dated October 21, 2022. Further, it prohibits commercial development and gaming activity on the land.