A newly introduced Pennsylvania bill would add a section to state law regulating prediction market platforms, according to the available report.
The proposal could establish state rules for prediction market platforms in Pennsylvania.
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Reportedly, Maricopa County, Arizona, and Delaware County, Pennsylvania, restricted employee trading in election prediction contracts ahead of the midterms. Maricopa County adopted its resolution in July, covering roughly 13,000 employees and additional sensitive subjects. Delaware County amended its employee oath, affecting about 2,200 workers.
Pennsylvania lawmakers have proposed prediction-market rules covering taxation, oversight and insider trading. State Representative Danilo Burgos’s bill would give the PGCB oversight and impose a 34% state tax plus a 2% local assessment. State Representative Tarik Khan backs separate bipartisan legislation banning insider trading and market manipulation and restricting bets involving deaths and youth sport.
Pennsylvania lawmakers are seeking state regulation of prediction markets through HB 2711. The report says the bill would neither impose taxes nor require licences, and would leave sports event contracts permitted.
Reportedly, House Bill 2711 was introduced in Pennsylvania on 22 July by Representative Tarik Khan. The measure, backed by more than 20 co-sponsors, would regulate prediction markets instead of prohibiting them.
It was reported that Pennsylvania legislators were considering a state framework for prediction market platforms. The proposal would regulate platforms such as Kalshi and Polymarket without prohibiting sports contracts.