Malevolent Catastrophe is a Normal Trap Card.
Trap Cards are normally Set first and can be activated on a later turn, often in response to an action.
On the current TCG and OCG Forbidden & Limited lists tracked here, Malevolent Catastrophe is Unlimited.
YGOPRODeck lists Malevolent Catastrophe for these formats: OCG GOAT, Common Charity, Edison, Speed Duel, TCG, OCG, Master Duel.
A listed print of Malevolent Catastrophe appears in Cyber Dragon Revolution Structure Deck (SDCR-EN034) at Common rarity.
Among markets shown on this page, the lowest listed snapshot for Malevolent Catastrophe is about $0.09 on Cardmarket (prices change frequently).
