A pair of lawmakers in New Jersey introduced legislation aimed at regulating prediction markets and creating a pathway for the platforms to legally offer sports event contracts.
Sens. Nicholas Scutari and Paul Sarlo introduced Senate Bill 4447 on June 11 to regulate prediction markets at the state level. This move comes amidst legal and regulatory disputes surrounding the operation of such markets. The bill seeks to provide a legal framework for prediction market platforms to offer contracts related to sports events while ensuring compliance with state regulations.
