New York lawmakers propose licensing framework for prediction markets
New York Senate Bill S8889 proposes a new prediction-market category under the state’s Financial Services Law, with the Department of Financial Services responsible for licensing and oversight. The bill would require operators to meet fitness, financial stability and compliance standards before serving New York residents. Assembly Bill 9251 separately proposes prohibiting certain types of prediction contracts.
Operators could face state licensing and compliance requirements if S8889 becomes law.