diff --git a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Alpha.hs b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Alpha.hs
index 8bc70f81e1f9..03ec1d7e9a96 100644
--- a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Alpha.hs
+++ b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Alpha.hs
@@ -519,6 +519,9 @@ alphaUpdate env = \case
             && alphaExpr' env e1a e2a
             && alphaExpr' (bindExprVar x1 x2 env) e1b e2b
         _ -> structuralMismatch
+    UPrefetchContracts e1 -> \case
+        UPrefetchContracts e2 -> alphaExpr' env e1 e2
+        _ -> structuralMismatch
 
 alphaScenario :: AlphaEnv reason -> Scenario -> Scenario -> Mismatches reason
 alphaScenario env = \case
diff --git a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Base.hs b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Base.hs
index 9b9a4202cde0..01d0427d8bc9 100644
--- a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Base.hs
+++ b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Base.hs
@@ -762,6 +762,9 @@ data Update
     , tryCatchVar :: !ExprVarName
     , tryCatchHandler :: !Expr
     }
+  | UPrefetchContracts
+    { contracts :: !Expr
+    }
   deriving (Eq, Data, Generic, NFData, Ord, Show)
 
 -- | Expression in the scenario monad
diff --git a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/FreeVars.hs b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/FreeVars.hs
index b03e77f41ce4..deabeec30ff2 100644
--- a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/FreeVars.hs
+++ b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/FreeVars.hs
@@ -158,6 +158,7 @@ freeVarsStep = \case
         UFetchByKeyF _ -> mempty
         ULookupByKeyF _ -> mempty
         UTryCatchF t e1 x e2 -> freeVarsInType t <> e1 <> bindExprVar x e2
+        UPrefetchContractsF e -> e
 
     goScenario :: ScenarioF FreeVars -> FreeVars
     goScenario = \case
diff --git a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Pretty.hs b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Pretty.hs
index 313b0e14ad52..e9a8415a8241 100644
--- a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Pretty.hs
+++ b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Pretty.hs
@@ -422,6 +422,7 @@ instance Pretty Update where
       pPrintAppKeyword lvl prec "ulookup_by_key" [tplArg tmplId]
     UTryCatch t e1 x e2 -> keyword_ "try" <-> pPrintTyArg lvl t <-> pPrintTmArg lvl e1
       <-> keyword_ "catch" <-> pPrintPrec lvl precParam x <-> keyword_ "." <-> pPrintTmArg lvl e2
+    UPrefetchContracts e -> pPrintAppKeyword lvl prec "prefetch_contracts" [TmArg e]
 
 instance Pretty Scenario where
   pPrintPrec lvl prec = \case
diff --git a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Recursive.hs b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Recursive.hs
index 5a8fdc1266e5..f0a29ccdedad 100644
--- a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Recursive.hs
+++ b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Recursive.hs
@@ -86,6 +86,7 @@ data UpdateF expr
   | UFetchByKeyF !(Qualified TypeConName)
   | ULookupByKeyF !(Qualified TypeConName)
   | UTryCatchF !Type !expr !ExprVarName !expr
+  | UPrefetchContractsF !expr
   deriving (Foldable, Functor, Traversable)
 
 data ScenarioF expr
@@ -130,6 +131,7 @@ projectUpdate = \case
   ULookupByKey a -> ULookupByKeyF a
   UFetchByKey a -> UFetchByKeyF a
   UTryCatch a b c d -> UTryCatchF a b c d
+  UPrefetchContracts a -> UPrefetchContractsF a
 
 embedUpdate :: UpdateF Expr -> Update
 embedUpdate = \case
@@ -148,6 +150,7 @@ embedUpdate = \case
   UFetchByKeyF a -> UFetchByKey a
   ULookupByKeyF a -> ULookupByKey a
   UTryCatchF a b c d -> UTryCatch a b c d
+  UPrefetchContractsF a -> UPrefetchContracts a
 
 projectScenario :: Scenario -> ScenarioF Expr
 projectScenario = \case
diff --git a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Subst.hs b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Subst.hs
index 9af34bfe4435..89428b85a33a 100644
--- a/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Subst.hs
+++ b/sdk/compiler/daml-lf-ast/src/DA/Daml/LF/Ast/Subst.hs
@@ -315,6 +315,8 @@ applySubstInUpdate subst = \case
             (applySubstInExpr subst e1)
             x'
             (applySubstInExpr subst' e2)
+    UPrefetchContracts e -> UPrefetchContracts
+        (applySubstInExpr subst e)
 
 applySubstInScenario :: Subst -> Scenario -> Scenario
 applySubstInScenario subst = \case
diff --git a/sdk/compiler/daml-lf-proto-decode/src/DA/Daml/LF/Proto3/DecodeV2.hs b/sdk/compiler/daml-lf-proto-decode/src/DA/Daml/LF/Proto3/DecodeV2.hs
index 9f3a5da4ce52..93da280ad70b 100644
--- a/sdk/compiler/daml-lf-proto-decode/src/DA/Daml/LF/Proto3/DecodeV2.hs
+++ b/sdk/compiler/daml-lf-proto-decode/src/DA/Daml/LF/Proto3/DecodeV2.hs
@@ -645,6 +645,8 @@ decodeUpdate LF2.Update{..} = mayDecode "updateSum" updateSum $ \case
       <*> mayDecode "update_TryCatchTryExpr" update_TryCatchTryExpr decodeExpr
       <*> decodeNameId ExprVarName update_TryCatchVarInternedStr
       <*> mayDecode "update_TryCatchCatchExpr" update_TryCatchCatchExpr decodeExpr
+  LF2.UpdateSumPrefetchContracts LF2.Update_PrefetchContracts{..} ->
+    fmap EUpdate $ UPrefetchContracts <$> mayDecode "update_PrefetchContractsExpr" update_PrefetchContractsExpr decodeExpr
 
 decodeRetrieveByKey :: LF2.Update_RetrieveByKey -> Decode (Qualified TypeConName)
 decodeRetrieveByKey LF2.Update_RetrieveByKey{..} =
diff --git a/sdk/compiler/daml-lf-proto-encode/src/DA/Daml/LF/Proto3/EncodeV2.hs b/sdk/compiler/daml-lf-proto-encode/src/DA/Daml/LF/Proto3/EncodeV2.hs
index 17d014eae311..7a5b011fcb6d 100644
--- a/sdk/compiler/daml-lf-proto-encode/src/DA/Daml/LF/Proto3/EncodeV2.hs
+++ b/sdk/compiler/daml-lf-proto-encode/src/DA/Daml/LF/Proto3/EncodeV2.hs
@@ -724,6 +724,9 @@ encodeUpdate = fmap (P.Update . Just) . \case
         update_TryCatchVarInternedStr <- encodeNameId unExprVarName tryCatchVar
         update_TryCatchCatchExpr <- encodeExpr tryCatchHandler
         pure $ P.UpdateSumTryCatch P.Update_TryCatch{..}
+    UPrefetchContracts{..} -> do
+        update_PrefetchContractsExpr <- encodeExpr contracts
+        pure $ P.UpdateSumPrefetchContracts P.Update_PrefetchContracts{..}
 
 encodeRetrieveByKey :: Qualified TypeConName -> Encode P.Update_RetrieveByKey
 encodeRetrieveByKey tmplId = do
diff --git a/sdk/compiler/daml-lf-tools/src/DA/Daml/LF/TypeChecker/Check.hs b/sdk/compiler/daml-lf-tools/src/DA/Daml/LF/TypeChecker/Check.hs
index a53b8e26ddc3..e3c3b4d9408b 100644
--- a/sdk/compiler/daml-lf-tools/src/DA/Daml/LF/TypeChecker/Check.hs
+++ b/sdk/compiler/daml-lf-tools/src/DA/Daml/LF/TypeChecker/Check.hs
@@ -657,6 +657,9 @@ typeOfUpdate = \case
     introExprVar var TAnyException $ do
         checkExpr handler (TOptional (TUpdate typ))
     pure (TUpdate typ)
+  UPrefetchContracts expr -> do
+    checkExpr expr (TList (TContractId TUnit))
+    pure (TUpdate TUnit)
 
 typeOfScenario :: MonadGamma m => Scenario -> m Type
 typeOfScenario = \case
diff --git a/sdk/daml-lf/archive/src/main/protobuf/com/digitalasset/daml/lf/archive/daml_lf1.proto b/sdk/daml-lf/archive/src/main/protobuf/com/digitalasset/daml/lf/archive/daml_lf1.proto
index 3792b1fe8849..7e7822bceaad 100644
--- a/sdk/daml-lf/archive/src/main/protobuf/com/digitalasset/daml/lf/archive/daml_lf1.proto
+++ b/sdk/daml-lf/archive/src/main/protobuf/com/digitalasset/daml/lf/archive/daml_lf1.proto
@@ -1462,6 +1462,10 @@ message Update {
     Expr catch_expr = 4;
   }
 
+  message PrefetchContracts {
+    Expr expr = 1;
+  }
+
   oneof Sum {
     Pure pure = 1;
     Block block = 2;
@@ -1481,6 +1485,7 @@ message Update {
     DynamicExercise dynamic_exercise = 15; // *Available in versions >= 1.dev*
     SoftFetch soft_fetch = 16; // *Available in versions >= 1.dev*
     SoftExercise soft_exercise = 17; // *Available in versions >= 1.dev*
+    PrefetchContracts prefetch_contracts = 18; // *Available in versions >= 1.17*
   }
 }
 
diff --git a/sdk/daml-lf/archive/src/main/protobuf/com/digitalasset/daml/lf/archive/daml_lf2.proto b/sdk/daml-lf/archive/src/main/protobuf/com/digitalasset/daml/lf/archive/daml_lf2.proto
index 4b4504b9fcaf..78dea2741b67 100644
--- a/sdk/daml-lf/archive/src/main/protobuf/com/digitalasset/daml/lf/archive/daml_lf2.proto
+++ b/sdk/daml-lf/archive/src/main/protobuf/com/digitalasset/daml/lf/archive/daml_lf2.proto
@@ -1100,6 +1100,10 @@ message Update {
     Expr catch_expr = 4;
   }
 
+  message PrefetchContracts {
+    Expr expr = 1;
+  }
+
   oneof Sum {
     Pure pure = 1;
     Block block = 2;
@@ -1115,6 +1119,7 @@ message Update {
     CreateInterface create_interface = 12;
     ExerciseInterface exercise_interface = 13;
     FetchInterface fetch_interface = 14;
+    PrefetchContracts prefetch_contracts = 15; // *Available in versions >= 2.dev*
 
     DynamicExercise dynamic_exercise = 1001; // *Available in versions >= 2.dev*
     SoftFetch soft_fetch = 1002; // *Available in versions >= 2.dev*
diff --git a/sdk/daml-lf/archive/src/main/scala/com/digitalasset/daml/lf/archive/DecodeV2.scala b/sdk/daml-lf/archive/src/main/scala/com/digitalasset/daml/lf/archive/DecodeV2.scala
index 7babcaa037eb..759868782759 100644
--- a/sdk/daml-lf/archive/src/main/scala/com/digitalasset/daml/lf/archive/DecodeV2.scala
+++ b/sdk/daml-lf/archive/src/main/scala/com/digitalasset/daml/lf/archive/DecodeV2.scala
@@ -1400,6 +1400,13 @@ private[archive] class DecodeV2(minor: LV.Minor) {
             }
           }
 
+        case PLF.Update.SumCase.PREFETCH_CONTRACTS =>
+          assertSince(LV.Features.prefetch, "Update.prefetch_contracts")
+          val prefetch = lfUpdate.getPrefetchContracts
+          decodeExpr(prefetch.getExpr, definition) { contracts =>
+            Ret(UpdatePrefetchContracts(contracts))
+          }
+
         case PLF.Update.SumCase.SUM_NOT_SET =>
           throw Error.Parsing("Update.SUM_NOT_SET")
       }
diff --git a/sdk/daml-lf/interpreter/src/main/scala/com/digitalasset/daml/lf/speedy/PhaseOne.scala b/sdk/daml-lf/interpreter/src/main/scala/com/digitalasset/daml/lf/speedy/PhaseOne.scala
index ecf69881b97c..ea2fc2a25c24 100644
--- a/sdk/daml-lf/interpreter/src/main/scala/com/digitalasset/daml/lf/speedy/PhaseOne.scala
+++ b/sdk/daml-lf/interpreter/src/main/scala/com/digitalasset/daml/lf/speedy/PhaseOne.scala
@@ -759,6 +759,9 @@ private[lf] final class PhaseOne(
             }
           }
         }
+      case UpdatePrefetchContracts(_) =>
+        // TODO: Implement prefetching
+        ???
     }
 
   @tailrec
diff --git a/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/Ast.scala b/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/Ast.scala
index e52491aca7d5..107c3a364897 100644
--- a/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/Ast.scala
+++ b/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/Ast.scala
@@ -608,6 +608,7 @@ object Ast {
       binder: ExprVarName,
       handler: Expr,
   ) extends Update
+  final case class UpdatePrefetchContracts(contracts: Expr) extends Update
 
   //
   // Scenario expressions
diff --git a/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/LanguageVersion.scala b/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/LanguageVersion.scala
index f706f9a7779f..9fc571f9cf2d 100644
--- a/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/LanguageVersion.scala
+++ b/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/LanguageVersion.scala
@@ -106,6 +106,8 @@ object LanguageVersion {
     val scenarios = v2_dev
     val contractKeys = v2_dev
 
+    val prefetch = v2_dev
+
     /** Unstable, experimental features. This should stay in x.dev forever.
       * Features implemented with this flag should be moved to a separate
       * feature flag once the decision to add them permanently has been made.
diff --git a/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/util/iterable/ExprIterable.scala b/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/util/iterable/ExprIterable.scala
index 7183284c35ad..fa84c8076403 100644
--- a/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/util/iterable/ExprIterable.scala
+++ b/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/util/iterable/ExprIterable.scala
@@ -127,6 +127,8 @@ private[lf] object ExprIterable {
         Iterator(body)
       case UpdateTryCatch(typ @ _, body, binder @ _, handler) =>
         Iterator(body, handler)
+      case UpdatePrefetchContracts(contracts) =>
+        Iterator(contracts)
     }
   }
 
diff --git a/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/util/iterable/TypeIterable.scala b/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/util/iterable/TypeIterable.scala
index 1c2e29d94daa..a218c08955fd 100644
--- a/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/util/iterable/TypeIterable.scala
+++ b/sdk/daml-lf/language/src/main/scala/com/digitalasset/daml/lf/language/util/iterable/TypeIterable.scala
@@ -162,7 +162,9 @@ private[lf] object TypeIterable {
       case UpdateEmbedExpr(typ, body) =>
         Iterator(typ) ++
           iterator(body)
-      case UpdateGetTime | UpdateFetchByKey(_) | UpdateLookupByKey(_) =>
+      case UpdateGetTime | UpdateFetchByKey(_) | UpdateLookupByKey(_) | UpdatePrefetchContracts(
+            _
+          ) =>
         ExprIterable.iterator(update).flatMap(iterator(_))
       case UpdateTryCatch(typ, body, binder @ _, handler) =>
         Iterator(typ) ++
diff --git a/sdk/daml-lf/spec/daml-lf-2.rst b/sdk/daml-lf/spec/daml-lf-2.rst
index 8f9c0dc0a867..53f62fa901d7 100644
--- a/sdk/daml-lf/spec/daml-lf-2.rst
+++ b/sdk/daml-lf/spec/daml-lf-2.rst
@@ -734,6 +734,7 @@ Then we can define our kinds, types, and expressions::
        |  'lookup_by_key' @τ e                      -- UpdateLookUpByKey
        |  'embed_expr' @τ e                         -- UpdateEmbedExpr
        |  'try' @τ e₁ 'catch' x. e₂                 -- UpdateTryCatch [Daml-LF ≥ 1.14]
+       |  'prefetch_contracts' e                    -- UpdatePrefetchContracts
 
   Scenario
     s ::= 'spure' @τ e                              -- ScenarioPure
@@ -2062,6 +2063,7 @@ need to be evaluated further. ::
          | 'lookup_by_key' @Mod:T v                  -- ValUpdateLookupByKey
          | 'embed_expr' @τ e                         -- ValUpdateEmbedExpr
          | 'try' @τ e₁ 'catch' x. e₂                 -- ValUpdateTryCatch
+         | 'prefetch_contracts' v                    -- ValPrefetchContracts
 
                            ┌────┐
    Scenario Values         │ sv │
@@ -2378,6 +2380,7 @@ grammar below. ::
         |  'exercise_interface' @Mod:I Ch v₁ v₂ E₃
         |  'fetch_by_key' @τ E
         |  'lookup_by_key' @τ E
+        |  'prefetch_contracts' E
 
   Scenario Evaluation Context
     SE ::= 'spure' @τ E
@@ -3625,6 +3628,9 @@ as described by the ledger model::
        ⇓ᵤ
      (Err err, ('rollback' tr₁))
 
+   —————————————————————————————————————————————————————————————————————— EvUpdPrefetchContracts
+     'prefetch_contracts' v ‖ (st, keys)  ⇓ᵤ  (Ok (), ε) ‖ (st, keys)
+
 
 Transaction normalization
 ~~~~~~~~~~~~~~~~~~~~~~~~~
diff --git a/sdk/daml-lf/validation/src/main/scala/com/digitalasset/daml/lf/validation/Typing.scala b/sdk/daml-lf/validation/src/main/scala/com/digitalasset/daml/lf/validation/Typing.scala
index 9831fff4f857..3c7aa57be9da 100644
--- a/sdk/daml-lf/validation/src/main/scala/com/digitalasset/daml/lf/validation/Typing.scala
+++ b/sdk/daml-lf/validation/src/main/scala/com/digitalasset/daml/lf/validation/Typing.scala
@@ -1389,6 +1389,10 @@ private[validation] object Typing {
             Ret(updTyp)
           }
         }
+      case UpdatePrefetchContracts(contracts) =>
+        checkExpr(contracts, TList(TContractId(TUnit))) {
+          Ret(TUpdate(TUnit))
+        }
     }
 
     private def typeOfCommit(typ: Type, party: Expr, update: Expr): Work[Type] = {