This legislation significantly amends the Commodity Exchange Act to establish a comprehensive regulatory framework for event contracts, defining them as contracts based on occurrences or contingencies other than commodity price changes. It grants the Commodity Futures Trading Commission (CFTC) explicit authority to review and prohibit event contracts deemed contrary to the public interest, specifically those involving unlawful activity, terrorism, assassination, war, violence, or gaming. The CFTC is directed to promulgate rules to specify criteria for such determinations, emphasizing contracts that materially encourage violence or similar unlawful activities. The bill introduces enhanced certification requirements for designated contract markets and swap execution facilities listing new event contracts, including standardized formats and disclosure requirements designed for retail customer readability. It also mandates that derivatives clearing organizations offering event contracts to non-eligible contract participants implement robust anti-money laundering (AML) compliance programs, including customer due diligence and age verification. Furthermore, it requires the segregation of customer funds, clear risk disclosures, and separate treatment of funds for fully collateralized versus leveraged contracts. To bolster consumer protection, the legislation establishes an Advisory Council on Consumer Protection within 90 days, tasked with providing a forum for retail investor discussions and developing recommendations for market integrity. Concurrently, it creates an Office of the Retail Advocate within the CFTC, whose advocate will assist retail participants, analyze regulatory impacts, propose rule changes, and conduct research. This office will also appoint an Ombudsman to act as a liaison for retail participants with the Commission. The bill addresses market integrity by prohibiting Members of Congress, the President, Vice President, and certain Executive Branch officials from trading event contracts, and directs the CFTC to promulgate rules for this prohibition. It also mandates the CFTC to review and update insider trading rules for event contracts, requiring enhanced measures to detect and deter such activities, and to conduct financial literacy campaigns for retail investors. Additionally, an Innovation Advisory Committee is established to facilitate discussion and advise the CFTC on innovation in derivatives and commodity markets, ensuring ongoing adaptation to market changes. Finally, the legislation mandates two key studies: one by the CFTC on the size, structure, and characteristics of event contract markets, and a joint study with the Securities and Exchange Commission on event contracts potentially under SEC jurisdiction and decentralized blockchain applications. To support these comprehensive initiatives, the bill authorizes $30,000,000 annually for fiscal years 2027 through 2031 for the CFTC, specifically for implementing these new regulations, oversight, rulemakings, and enhancing technological capabilities.