New York A 9251: Relates to prediction markets

Bill Text

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A09251 Summary:

BILL NOA09251A

&nbsp

SAME ASSAME AS S09414

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SPONSORVanel

&nbsp

COSPNSRShimsky, Steck, Hyndman

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MLTSPNSR

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

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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 A09251 Actions:

BILL NOA09251A

&nbsp

11/07/2025referred to consumer affairs and protection

01/07/2026referred to consumer affairs and protection

03/10/2026amend (t) and recommit to consumer affairs and protection

03/10/2026print number 9251a

Go to topA09251 Committee&nbspVotes:

Go to topA09251 Floor&nbspVotes:

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

Go to topA09251 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9251--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 November 7, 2025
 ___________

 Introduced by M. of A. VANEL, SHIMSKY, STECK, HYNDMAN -- read once and
 referred to the Committee on Consumer Affairs and Protection -- recom-
 mitted to the Committee on Consumer Affairs and Protection in accord-
 ance with Assembly Rule 3, sec. 2 -- committee discharged, bill
 amended, ordered reprinted as amended and recommitted to said commit-
 tee

 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.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14025-02-6

 A. 9251--A 2

 1 § 1800. Short title. This article shall be known and may be cited as
 2 the "oversight and regulation of activity for contracts linked to events
 3 (ORACLE) act".
 4 § 1801. Definitions. As used in this article, the following terms have
 5 the following meanings:
 6 1. "Consumer" means an individual who is a resident of the state of
 7 New York.
 8 2. "Prediction market platform" means any platform or service that
 9 provides consumers with the ability to open, close, trade, or settle
 10 speculative positions on prediction markets. A prediction market plat-
 11 form shall not include a platform operated by an entity that (a) is
 12 licensed in this state, (b) would otherwise be required to be licensed
 13 to operate in this state, or (c) that is prohibited from operating in
 14 this state under the racing, pari-mutuel wagering and breeding law.
 15 3. "Prediction market" means a system that allows consumers to open a
 16 speculative position on the outcome of future events, in a bid-ask
 17 format. This definition shall include all forms of prediction markets
 18 regardless of the mechanisms or structures used for opening speculative
 19 positions on future events.
 20 4. "Bid-ask format" shall mean a format in which parties submit offers
 21 to buy positions on a prediction market at a specific price or range of
 22 prices and offers to sell positions at a specific price or range of
 23 prices, with market prices determined through the matching of these
 24 offers.
 25 5. "Catastrophic event market" means a prediction market that enables
 26 a consumer to open a speculative position on an outcome that relates to
 27 war, state or national emergencies, natural or human-made disasters,
 28 mass shootings, acts of terrorism, or public health crises or the ancil-
 29 lary effects thereof.
 30 6. "Political market" means a prediction market that enables a consum-
 31 er to open a speculative position that relates to:
 32 (a) a federal electi