New York State proposes new prediction market regulation bill, aiming to ban contracts on political and sports events

2026-01-09 08:38:21

PANews January 9 News, the New York State Legislature reintroduced the “ORACLE Act” in November 2025, proposing to regulate event-based contracts through the addition of Chapter 48 “Prediction Markets” to the General Business Law. The bill proposes to prohibit contract trading related to political and sporting events, while establishing age restrictions, market access conditions, advertising restrictions, anti-manipulation clauses, and other regulations. Although the ban covers specific types of events, neutral outcome markets such as “league win/loss” may still be tradable, indicating that regulators are attempting to strike a balance between innovation and risk.

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