By SectorWire desk ·
Pennsylvania Representative Tarik Khan proposed HB 2711 to regulate prediction markets. The bipartisan proposal would cover platforms such as Kalshi and Polymarket and provide penalties of up to $1m daily.
The proposal would establish state requirements and substantial potential penalties for prediction-market operators.
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Pennsylvania proposals would introduce prediction-market taxation, PGCB oversight, insider-trading bans and restrictions on bets involving deaths and youth sport.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.
The access restrictions affect how prediction-market platforms can serve users in Taiwan amid enforcement over election-related betting.
BetMGM's iGaming revenue exceeded its online sports betting revenue, giving investors a comparison of the operator's two businesses.
Investors assessing election betting growth must consider that Polymarket’s busiest 1% of wallets generated 70% of congressional trading volume.
Ohio’s request puts disputed state and federal authority over sports prediction market operators before the Supreme Court.