Pennsylvania Bill Bans Liquidity Sharing Between Betting Firms and Prediction Markets

HB 2711 prohibits gambling operators from providing liquidity to prediction markets, targeting DraftKings and Flutter. The bill sets age limits, bans specific contracts, and assigns enforcement to the Attorney General.

Woofun AI reports that Pennsylvania Representative Tarik Khan introduced HB 2711 on July 22, co-sponsored by 24 bipartisan legislators (20 Democrats and 4 Republicans), to prohibit gambling entities from providing liquidity for prediction markets. The legislation extends restrictions to parent companies and affiliates, banning revenue sharing between prediction platforms and gambling firms, which impacts operators like DraftKings and Flutter. The bill mandates a minimum age of 21, prohibits contracts involving high school sports, minor participation, or death events, and requires anti-fraud mechanisms. Enforcement authority is granted to the state Attorney General without a new licensing system, despite a Third Circuit Court ruling favoring federal precedence over state gambling laws.