By The Weekly Edge desk ·
SBC Americas reported that Pennsylvania House Bill 2711 would prohibit insider trading on prediction markets and introduce daily penalties of $1m. The bill went to the Consumer Protection, Technology & Utilities Committee for consideration.
The proposal would create civil penalties for prediction market insider trading.
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Polymarket’s request for help against New York and Kalshi’s potential tribal agreement concern prediction market operators.
The ruling and machine removals are followed by 81 job cuts at Republic Amusements, while legalisation legislation remains stalled.
The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.
The ruling puts businesses hosting skill-game machines at risk of losing the revenue those devices generate.