Is Hired Heist legal in Standard, Modern, and Commander?

Hired Heist is legal in: no major formats. It is banned in: Legacy, Vintage, Commander, Pauper.

Hired Heist

Q: What type of card is Hired Heist?

Hired Heist is a Conspiracy. Its oracle text reads: "Hidden agenda (Start the game with this conspiracy face down in the command zone and secretly choose a card name. You may turn this conspiracy face up any time and reveal that name.) Whenever a creature you control with the chosen name deals combat damage to a player, you may pay {U}. If you do, draw a card."

Conspiracy

Hidden agenda (Start the game with this conspiracy face down in the command zone and secretly choose a card name. You may turn this conspiracy face up any time and reveal that name.)

Whenever a creature you control with the chosen name deals combat damage to a player, you may pay . If you do, draw a card.