Nevada Congressmen have introduced a bipartisan bill seeking to ban sports prediction market contracts, arguing that they resemble sports betting and casino-style gambling.
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On July 22, 2026, Pennsylvania lawmakers introduced HB 2711, which aims to create a new regulatory framework for prediction markets, as opposed to the wider trend in U.S. states that have focused on banning and taxing the industry.
The proposal, filed by Representative Tarik Khan and more than 20 co-sponsors, was sent to the Consumer Protection, Technology, and Utilities Committee, explaining how the state could regulate prediction platforms by setting clear operation, participation, and category rules. According to the bill, the Attorney General would receive authority to enforce laws, issue fines, and ban platforms in case of violations.
The bill clearly defines prediction markets and establishes restrictions on certain types of trades, as well as orders operators to exclude specific types of players.
The bill states:
“A provider may not permit an individual under 21 years of age to open an account and take a speculative position on the prediction market platform. If the provider detects potential manipulation, material nonpublic information, or fraud, the provider shall report the detection to the Attorney General and, if appropriate, to law enforcement.”
Additionally, multiple types of contracts are expected to be banned, including sports events where the participants are minors or high school teams, and markets tied to the health status of a person. If breaches are identified, operators would face penalties ranging from $10,000 to $50,000.
