New York S 9414: Relates to prediction markets

Bill Text

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S09414 Summary:

BILL NOS09414 

&nbsp

SAME ASSAME AS A09251-A

&nbsp

SPONSORADDABBO

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add Art 48 §§1800 - 1813, Gen Bus L; add §913, RWB L

&nbsp

Enacts the oversight and regulation of activity for contracts linked to events (ORACLE) act to provide for requirements and restrictions on prediction markets.

Go to top S09414 Actions:

BILL NOS09414 

&nbsp

03/10/2026REFERRED TO RACING, GAMING AND WAGERING

05/20/2026REPORTED AND COMMITTED TO FINANCE

Go to topS09414 Committee&nbspVotes:

Go to topS09414 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS09414 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9414

 IN SENATE

 March 10, 2026
 ___________

 Introduced by Sen. ADDABBO -- read twice and ordered printed, and when
 printed to be committed to the Committee on Racing, Gaming and Wager-
 ing

 AN ACT to amend the general business law and the racing, pari-mutuel
 wagering and breeding law, in relation to prediction markets

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The general business law is amended by adding a new article
 2 48 to read as follows:
 3 ARTICLE 48
 4 PREDICTION MARKETS
 5 Section. 1800. Short title.
 6 1801. Definitions.
 7 1802. Age restrictions.
 8 1803. Exclusions from participation.
 9 1804. Certain markets prohibited.
 10 1805. Settlement sources.
 11 1806. At-risk trading measures.
 12 1807. Advertising restrictions.
 13 1808. Restrictions on credit-based products and gift certif-
 14 icates.
 15 1809. Restrictions on market making.
 16 1810. Certain contract provisions void.
 17 1811. Insider trading and market manipulation.
 18 1812. Penalties.
 19 1813. Rulemaking authority.
 20 § 1800. Short title. This article shall be known and may be cited as
 21 the "oversight and regulation of activity for contracts linked to events
 22 (ORACLE) act".
 23 § 1801. Definitions. As used in this article, the following terms have
 24 the following meanings:
 25 1. "Consumer" means an individual who is a resident of the state of
 26 New York.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14025-03-6

 S. 9414 2

 1 2. "Prediction market platform" means any platform or service that
 2 provides consumers with the ability to open, close, trade, or settle
 3 speculative positions on prediction markets. A prediction market plat-
 4 form shall not include a platform operated by an entity that (a) is
 5 licensed in this state, (b) would otherwise be required to be licensed
 6 to operate in this state, or (c) that is prohibited from operating in
 7 this state under the racing, pari-mutuel wagering and breeding law.
 8 3. "Prediction market" means a system that allows consumers to open a
 9 speculative position on the outcome of future events, in a bid-ask
 10 format. This definition shall include all forms of prediction markets
 11 regardless of the mechanisms or structures used for opening speculative
 12 positions on future events.
 13 4. "Bid-ask format" shall mean a format in which parties submit offers
 14 to buy positions on a prediction market at a specific price or range of
 15 prices and offers to sell positions at a specific price or range of
 16 prices, with market prices determined through the matching of these
 17 offers.
 18 5. "Catastrophic event market" means a prediction market that enables
 19 a consumer to open a speculative position on an outcome that relates to
 20 war, state or national emergencies, natural or human-made disasters,
 21 mass shootings, acts of terrorism, or public health crises or the ancil-
 22 lary effects thereof.
 23 6. "Political market" means a prediction market that enables a consum-
 24 er to open a speculative position that relates to:
 25 (a) a federal election, a statewide election in New York, or an
 26 election held by a municipality within the state; or
 27 (b) the actions or conduct of the federal government, its agencies,
 28 employees, officers or leaders, the New York state government or any of
 29 its agencies, employees, officers or leaders, or a municipal government
 30 or any of its agencies, employees, officers or lea