Pennsylvania lawmakers are considering a different approach to prediction markets and sports event contracts.
Rep. Tarik Khan introduced HB 2711 on Wednesday, a bill that would create a regulatory framework for platforms like Kalshi and Polymarket.
Other states have attempted to ban prediction markets or tax trading exchanges operating in their jurisdictions, even though these platforms are federally regulated by the Commodity Futures Trading Commission (CFTC).
The bipartisan bill is sponsored by 20 Democrats and four Republicans. It was referred to the Consumer Protection, Technology & Utilities Committee for a reading and vote. Similar to sports betting, the proposed legislation would add consumer protections and integrity measures to prediction markets.
