Politics, Death Markets, and Heavy Penalties

[johnblockbuster]

The bill goes further than sports, proposing a ban on prediction markets tied to elections, government actions, deaths, or catastrophic events. Markets involving wars, natural disasters, terrorism, public health crises, or speculation on the death of individuals would all be prohibited, along with bets on the stock price of publicly traded companies.

Platforms operating in New York would also be required to add self-exclusion tools and spending limits for users. Companies that continue offering banned markets after being ordered to stop could face fines of $1 million per day, signaling that New York regulators are prepared to take an aggressive stance as prediction markets continue to grow.

[ed]

banning death + disaster markets feels obvious but also shows how far this stuff already went