Pennsylvania plans to ban quiz companies from providing liquidity to forecast markets or influencing DraftKings and Flutter layouts

In comparison, Pennsylvania Representative Tarik Khan proposed HB 2711 on July 22, which was co-signed by 24 bipartisan lawmakers (20 Democrats, 4 Republicans), and submitted to the House Consumer Protection, Technology, and Utilities Committee. The bill proposes to prohibit the provision of predictive market services to Pennsylvania residents during the regular business of liquidity providers or market makers, extend the scope of restrictions to parent companies, subsidiaries, related parties and joint ventures, and prohibit prediction platforms from sharing revenue with quiz companies.

The move could affect sports betting groups such as DraftKings (which has acquired CFTC-registered Railbird Technologies and launched its own DKEx exchange) and Flutter, which are entering the predictive market market market. The bill also sets a minimum age limit of 21, prohibits contracts involving high school sports, events involving minors, and death markets, and requires platforms to establish anti-fraud and insider information abuse protection mechanisms.

The Act does not establish a licensing system, and the law is enforced by the Attorney General of Guizhou. Earlier, the Third Circuit Court of Appeals ruled 2:1 in April that the federal Mercantile Exchange Act took precedence over state betting laws, but Pennsylvania has joined the 40-state league arguing that sports contracts should be regulated at the state level.